MASTER 

NEGATIVE 
NO.  94-82280 


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Author: 


Crittenden,  Samuel 
Worcester 

Title: 

An  inductive  and  practical 
treatise  on  bookkeeping... 

Place: 

Philadelphia 

Date: 

1856 


COLUMBIA  UNIVERSITY  LIBRARIES 
PRESERVATION  DIVISION 

BIBLIOGRAPHIC  MICROFORM  TARGET 


MASTER    NEGATIVE   # 


ORIGINAL  MATERIAL  AS  FILMED  -    EXISTING  BIBLIOGRAPHIC  RECORD 


420 

C863' 

MONTGOMERY 


Crittondon,  Sainuol  Worcester 

An  inductive  and  practical  treatise  on  book- 
keeping by ^single  and  double  entry,  designed  for 
coinmoroial  institutes,  private  students,  and  prac- 
tical accountants:  containining  ^l^  four  sets  of 
books  by  single  entry,  and  six  sets  by  double  en^ 
try.  Also,  a  set  of  steamboat  books |  practical 
forms  for  keeping  books,  calculated  to  save  labor 
in  the  various  branches  of  business;  connaercial 
calculations!  a  table  of  foreign  coins  and  moneys 
of  account,  etc.  B^S.  V^  Crittenden  •••  Phila- 
delphia, Diddle,   ^^1856« 

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THE  LIBRARIES 


AN 


INDUCTIVE  AND  PRACTICAL   TREATISE 


OH 


BOOK-KEEPING 


BY 


[NGLE  AND    DOUBLE    ENTRY, 


DKSioNSD  roa 


COMMERCIAL  INSTITUTES,  PRIVATE  STUDENTS,  AND  PRACTICAL  ACCOUNTANTS: 

OONTAINIMINa 

FOUR  SETS  OF  BOOKS  BY  SINGLE  ENTRY, 


AND 


SIX  SETS  BY  DOUBLE  ENTRY. 


ALSO, 


tt  0f  ^temkat  ^0ilfe$; 


PRACTICAL  FORMS  FOR  KEEPING  BOOKS. 

CALCULATED  TO  SAVE  LABOB  IN  THE  VAKIOUS  BRANCHES   OP  BUSINESS; 

f  COMMERCIAL   CALCULATIONS; 

A  TABLE  OF  FOfiEIGK  COINS  AND  MONETS  OF  ACCOUBT,  ETC. 


BY 


S.  W.  CRITTENDEN,  Accountant, 

AOTBM  or  AM  ''lin>UCIITB  UKD  PRACTICAL  TKBAnSX  ON  BOOK-KXEFTNa,"  HXGH-SCHOOL  XDRIOZr,  ASh  OW  **  AM 

XKXATISI  05  BOOK-UXPINO,  YOK  OOKliON  SCHOOLB." 


I] 


PHILADELPHIA: 
E.  C.  &  J.  BIDDLE,  No.  8  MINOR  STREET, 

{Bdwem  Marktt  and  Chutnuly  and  I\fth  and  Sixth  SU.) 

1856. 


(^ 


^LAJUUUbU 


{^hiATvJXtn^AJUif^   \ 


I 


Entered  according  to  act  of  Congresa,  in  the  year  1853.  bv 

8.  W.  CRITTENDEN, 

in  tb4  Clerk's  Office  of  the  Diatrict  Court  of  the  Eastern  District  of  PennsylTaoia. 


3  ^"lo 


ffTKaiOTTPEO  BT  L.  J0HN80N  AMD  Ca 
PHILADELPHIA. 

Primed  by  T.  K  A.  P.  Q.  Collini. 


'if,i 


CONTENTS. 


Pekfaci       .    ,.  M 

Brief  Plan  of  thk  Work 

VOGABULABT  OF  AbBRKTIATIONS,  ChARAOTBES,  AND  MERCANTILE  TeRMS. 

8fngfc  (£ntn).    r 

Introduction 

Set  I,  Business  of  a  Painter  and  Glazier. 

Explanatorj  Remarks 

Instructions  for  writing  up m.... 

Cash-Book : 

Day-Book 

Leger 

Deductions 

Questions  for  Review 

Set  II,  Business  of  a  Cabinet  Maker — Partnership. 

Explanatory  Keroarks 

Instructions  for  writing  up 

Cash-Book 

Day-Book 

Alphabet  or  Index 

Leger 

Deductions 

Questions  for  Review 

Bet  III,  Business  of  a  Farmer. 

Explanatory  Remarks  and  Instructions  for  writing  up 

History  and  Elucidations 

Farm  Account 

Inventory-Book 

Deductions 

Questions  for  Review 

6et  IV,  Business  of  a  Blacksmith. 

Explanatory  Remarks 

Leger,  used  as  a  book  of  original  entry 


Introduction 


BouOfc  Ciitrq. 


ITALIAN  METHOD. 
Set  I,  Cloths  and  Cassimeres — Gaining  Business. 

Explanatory  Remarks  and  Instructions  for  writing  up 

Dny-Book 

Journal,  with  Elucidations ^ 

Leger 

Full  Explanation  of  the  method  of  Posting  and  Closing  the  Leger,  with  Trial  Balances  and 
Inventory-Book 

Statements  showing  the  result  of  the  Business 

Questions  for  Review 

Set  II,  Boots  and  Shoes — Losing  Business — Closing  Insolvent. 

Instructions  for  writing  up 

Day-Book 

Elucidations  for  Journalizing 

Trial  Balances  and  Inventory-Book 

Statements  showing  the  result  of  the  Business 

Questions  for  Review 

Set  III,  Continuation  of  Set  11— Commencing  Insolvent — Closing  with  Net  Capital. 

Day-Book , 

Elucidations  for  Journalizing 

«  Trial  Balance  and  Inventory-Book 

Statements  showing  the  result  of  the  Business 

Questions  for  Review 

General  Remarks 

DAY-BOOK  IN  JOURNAL  FORM. 

Set  IV,  Dealing  in  Real  Estate^  Stocks,  3^e. — Gaining  Business — two  Partners,  investing  equal  amouras 
of  Net  Capital — Gains  shared  equally. 

Explanatory  Remarks  and  Instructions  for  writing  up 

History  and  Elucidations 

Day-Book 

Leger 

3 


PAQI 

6,  6 

7.8 

9—12 


U 

16,  17 
17,18 

19 
20,  21 
22,23 

24 
25,26 

28 

29 

30,  31 

32—34 

35 

36—38 

39 

40 

42,48 
44—49 

50,  51 
52 
53 
54 

55 
56,57 


60—62 


63-65 
66,  67 
68,69 

70— f2 

73 — 75 
76,77 
77,78 

79 
80,81 
82,83 

83 
83,84 

84 

86,87 
88 
89 
89. 
90 
90 


92 

93—96 

96—98 

99-102 


li 


I 


CONTENTS. 

turn 

Trial  Balance  and  Inventory 108 

Statements  showing  the  result  of  the  Basiness 108,  104 

Questions  for  Review 104 

Set  V,  Produce,  Grocery  and  Domestic  Shipping  Bwsineaa — Losing  Business — three  Partners,  one  fur^ 
nishing  no  Capital — Losses  shared  unequally. 

Instruotions  for  writing  up .' 02 

History  and  Elucidations 106—108 

Trial  Balance  and  Inventory 100 

Statements  showing  the  result  of  the  Business 109,  110 

Questions  for  Review Ill,  112 

Remarks  on  Detection  and  Correction  of  Errors Ill 

BALANCE  SHEETS  AND  LEGEB  ACCOUNTS. 

Balance  Sheets  explained  and  Formulas  given 114 — 116 

Leger  Accounts  discussed 117 — 120 

Questions  for  Review 121 

DAT-BOOK  IN  JOTJBNAL  FOBU— CASH  ENTERED  SOLELY  IN  THE  CASH-BOOK,  AND  TBANSFEEBED 

MONTHLY  TO  THE  DAYBOOK. 

8kt  VI,  Foreign  Shipping  and  General  Commission  Business.     Two  Partrurt  at  commencing,  and  afttt" 
ward  a  third  taken  in. 

Explanatory  Remarks  and  instructions  for  writing  up 124,  125 

History  and  Elucidations 126—188 

Day-Book  A 139—144 

Day-BookB 145—148 

Cash-Book 149—153 

Index  and  Leger  A 155—160 

Index  and  Leger  B 161 — 165 

Inventory-Book  and  Trial  Balances 166,  167 

Auxiliary  Books  for  Set  VL 

Bank-Book  and  Check-Book 170,  171 

Bill-Book 172,  178 

Invoice-Book » 174 

Sales-Book 175 

Outward-Invoice-Book 176 

Account-S^les-Book 177,  178 

Account-Current-Book 179,  180 

Letter-Book 181 

Additional  Auxiliaries 182 

Leger  Accounts  (continued  from  page  120) .*. 183 

Questions  for  Review,  SetYI 184 

STEAMBOAT  BOOKS. 

Books  of  Steamboat  Sultana  for  two  Trips. 

Explanatory  Remarks  and  Instructions  for  the  Student 185 

Freight-Book 186—189 

.    Passage-Book 190,  191 

Cash-Book 192—195 

Journal » 196 

Index  and  Leger 197—199 

Crew's  Leger 200—208 

Balance  Sheet,  Manifest,  Steamboat  Report,  Bill  of  Lading,  Bill  for  Freight 204,  205 

Forms  of  Notes,  Due  Bills,  Drafts,  Bills  and  Sets  of  Exchange,  Orders  and  Receipts 206 — ^208 

PRACTICAL  FORMS  TO  SAVE  LABOR  IN  KEEPING  BOOKS. 

Preliminary  Remarks 210 

Pbactical  Form,  No.  I,  for  Professional  Gentlemen,  Mechanics,  Teachers,  and  others 211 — 216 

PBACTIOAL  Form,  No.  2,  for  Retail  Merchandising  Business 217 — 224 

Practical  Form,  No.  3,  for  Wholesale,  Jobbing,  Manufacturing,  Retail,  or  General  Trading  Business  225 — 238 

Practical  Form,  No.  4, /or  Wholesale,  Jobbing,  Importing,  or  Manufacturing  Business 289 — 249 

Practical  Form,  No.  5, /or  Wholesale  and  Retail,  or  Extensive  Retail  Business 250 

Practical  Form,  No.  6, /or  Commission  and  Company  Speculating  Operations 251 — 264 

Form  of  a  Continued  Monthly  Trial  Balance 265 

Forms  ot  Receiving  and  Forwarding  Books 266 

COMMERCIAL  CALCULATIONS,  OR  MERCANTILE  ARITHMETIC. 

Interest,  Discount,  Bank  Discount,  and  Discount  on  Bills  and  Invoices « 268—271 

Insurance,  Commission,  and  Loss  and  Gain 272,  278 

Equation  of  Payments  (commonly  called  Average)  both  Simple  and  Compound 278 — 277 

Equation  applied  to  the  Storage  of  Property • 277,  278 

Exchange  on  Great  Britain  and  Indirect  Exchange 278 — 280 

Tables  of  Foreign  Coins  and  Moneys  of  Account • • 280 — 286 

Time  Tables 287,288 

4 


PREFACE. 


In  the  fall  of  1845,  a  treatise  on  Book-Keeping  was  published,  entitled,  "  An  In- 
ductive and  Practical  System  of  Double  Entry  Book-Keeping,"  in  two  editions, 
one  for  the  Counting-House,  and  the  other  (being  an  abridgment  of  the  Countmg-HoiMO 
edition)  for  High-Schools  and  Academies.  In  the  preparation  of  that  work  for  the 
press,  the  author  of  the  present  treatise  was  associated  with  his  brother,  A.  F.  Crittenden. 
In  1849,  having  purchased  all  his  brother's  interest  in  the  former  work,  he  prepared 
for  publication  as  sole  author  a  new  treatise,  (also  in  two  editions,)  similar  m  many 
respects  to  the  former,  but  much  more  extended,  embracing  Single  as  well  as  Double 
Entry  Book-Keeping,  and  made  to  conform  more  fully  to  the  actual  practice  of  our 
best  accountants.  Both  these  publications  ran  through  several  editions,  and  the  latter 
especially  has  met  with  the  most  favorable  reception  in  all  parts  of  the  United  States, 
each  succeeding  year  having  shown  a  greatly  enlarged  demand  for  it. 

The  favor  thus  shown  the  work  did  not  cause  the  author  to  lessen  his  endeavors  to 
improve  it,  but  rather  stimulated  him  to  increased  effort  to  merit  the  favor  bestowed 
upon  it,  and  led  to  the  publication  of  the  present  edition,  which,  as  compared  with  the 
former,  is  improved  in  every  way  which  the  additional  experience  of  several  years  in 
teachintr  in  a  large  city,  daily  intercourse  with  practical  accountants,  and  almost  con- 
stant exercise  in  adjusting  intricate  accounts  for  others  could  suggest  to  him.  In  his 
efforts  to  improve  the  work  he  has  been  kindly  and  liberally  aided  by  his  publishers, 
who  have  spared  no  expense  which  would  tend  to  make  it  more  useful  and  acceptable. 

It  must  be  apparent  to  every  careful  observer  that  the  science  of  Book-Keeping  has 
of  late  received  much  more  attention  in  our  country  than  in  former  years,  not  only 
among  merchants  and  business  men  generally,  but  in  schools,  both  public  and  private ; 
and  the  author  confidently  believes  that  the  time  is  not  far  distant  when  it  will  be  con- 
sidered as  essential  a  branch  of  an  English  education  as  Arithmetic  or  Grammar  now  is. 
Entertaining  this  opinion,  he  prepared  for  the  press  "An  Elementary  Treatise  on 
Book-Keeping  by  Single  and  Double  Entry,  designed  for  Common  Schools,"  which  was 
published  in  April  of  this  year,  and  which  he  trusts  may  ptove  a  valuable  auxiliary  to 

teachers. 

The  three  publications  on  Book-Keeping  above  named  are  now  so  arranged  as  to 
harmonize  with  each  other,  and  to  supply  a  series  of  text-books  adapted,  it  is  believed, 
for  the  use  of  learners  at  different  stages  of  advancement,  from  the  school-boy  and  mere 
tyro  in  commercial  knowledge,  to  the  man  of  mature  years  and  cultivated  business 
habits ;  while  the  more  advanced  work  of  the  series  will,  the  author  hopes,  be  found 
to  be  not  unworthy  a  place  on  the  desk  of  the  experienced  accountant,  as  a  book  of 

reference.  i.   ,      /^        •      tt 

The  following  is  a  concise  summary  of  the  leading  features  of  the  Countmg-House 

edition,, as  now  presented  to  the  public: 

1.  Bach  set  of  books  is  so  short  that  the  pupil  will  be  enabled  to  comprehend  and  trace  out  the  con- 

nection between  corresponding  entries  in  the  several  account  books  of  the  set,  and  will  not  be- 
come fatigued  with  the  extent  of  his  business  before  ascertaining  its  result. 

2.  A  suflBcient  number  of  sets  is  given  to  illustrate  the  opening  and  closing  of  books,  both  individual 

and  partnership,  under  the  various  positions  of  gains  and  losses,  capital  and  insolvency. 
.1.  Plain  and  philosophical  principles,  to  guide  the  reasoning  faculties,  are  presented,  instead  of  men 
arbitrary  directions  ana  unnecessary  classifications;  and  in  the  part  by  Double  Entry,  all  eluci- 
dations of  debits  and  credits  are  based  on  one  general  rule  deduced  from  the  definiiion  o/dtU^ 
and  creditor. 


i! 


I'i 


It 


! 

I; 

i 


PREFACE. 

4.  Many  of  the  entries  are  so  classified  as  to  bring  those  of  a  similar  natare  or  of  a  directly  ODDOsitA 

nature  together,  and  thus  to  impress  them  upon  the  mind  by  strong  similarities  and  contrasts. 

5.  Each  successive  exercise  is  intended  to  be  a  step  of  progress  in  the  science,  but  yet  so  short  and 

easy  a  step  that  what  has  already  been  explained  shall  be  inductive  thereto,  and  aid  in  its 
achievement. 

6.  The  Day-Book,  or  the  original  history  of  transactions,  is  all  that  is  furnished  for  several  seta, 

to  prevent  the  possibility  of  merehj  copying,  and  to  compel  the  nupil  to  depend  upon  his  own 
mental  resources  for  his  entries.  Trial  Balances,  and  other  proots,  are  however  given  to  test  the 
correctness  of  his  work. 

7.  Each  set  is  followed  with  questions  for  review,  which  will  afford  teachers  an  opnortunity  of  ascer- 

taining the  amount  of  knowledge  which  their  pupils  have  acquired,  and  will  aid  the  pupil  in 
fixing  that  knowledge  permanently  in  his  mind. 

8.  The  nature  and  object  of  the  different  Leger  accounts  are  discussed  after  the  student  has  been 

made  acquainted  with  the  premises  for  reasonable  conclusions. 

9.  The  method  of  transferring  accounts  from  one  Leger  to  another  is  illustrated.    Also,  a  business  is 

shown,  in  which  two  partners  are  interested  at  starting,  but  afterward  a  third  is  taken  into  the 
concern. 

10.  A.  foreign  shipping  business  is  introduced.  In  preparing  this  important  portion  of  the  work,  the 
author  consulted  with  many  practical  accountants,  and  he  feels  assured  he  has  presented  the 
matter  in  a  form  well  adapted  to  the  wants  of  learners,  and  which  will  claim  the  approval  of  ex- 
perienced book-keepers. 

11.  The  space  occupied  with  the  Italian  method  of  Book-Keeping  (a  form  now  obsolete  in  practice, 
although  the  foundation  of  all  other  forms)  is  barely  suflBcient  to  give  those  general  ideas  of 
journalizing,  posting,  &c.,  which  must  first  be  learned,  and  which  can  be  better  acquired  under 
this  form  than  any  other ;  while  the  main  portion  of  the  work  is  devoted  to  improved  methods^ 
such  as  are  now  in  use  in  counting-houses  in  the  various  branches  of  business. 

12.  An  extended  variety  of  practical  labor-saving  Forms  for  keeping  books  follows  that  portion  of  the 

,    .    .        1    -1  /.      •  .•         _    1   1 1-j _r  A.I :^~-.«.  4^u^  ^vt.^^i.  ^^^»»k  v^-.«  «^/l  tUQ 


believed, 

_ lavo  been 

revised  with  rigid  criticism,  and  some  which  were  formerly  inserted  have  been  thrown  aside  as 
too  theoretical,  while  others  have  been  modified  to  make  them  the  better  suited  to  the  specific 
business  intended ;  and  the  author's  endeavor  has  been  to  furnish  all — the  teacher,  the  mechanic, 
and  the  professional  man,  as  well  as  the  most  extensive  wholesale  dealer,  manufacturer,  and 
commission  merchant,  with  such  information  as  each  severally  needs. 

13.  A  series  of  Commercial  Calculations  are  given,  worked  by  the  shortest  and  most  approved  methods; 
also,  a  Table  of  the  Coins  and  Moneys  of  Account  of  the  principal  commercial  nations  of  the  world, 
showing  their  intrinsic  values  estimated  according  to  the  United  States  Mint  valuation. 

14.  A  Key  to  the  work  has  been  published  for  the  use  of  teachers  and  private  students,  which  contain! 
the  different  Journals,  Legers,  Balance  Sheets,  &c.,  that  are  omitted  in  the  treatise  itself.  Some 
books  which  are  omitted  in  the  High-school  edition,  and  therefore  given  in  the  Key,  will  be  found 
inserted  in  this  edition,  for  the  convenience  of  those  who  use  it  as  a  book  of  reference,  and  whc 
do  not  wish  to  procure  the  Key. 

15.  Blank  books,  for  writing  up  the  sets,  with  printed  explanations,  have  also  been  published. 

The  distinctive  characteristics  of  the  High-School  edition  are  noticed  in  the  Br^f 
Plan  of  the  work,  which  follows  this  Preface. 

The  author  returns  his  sincere  thanks  to  the  many  gentlemen,  comprising  in  the 
number  merchants,  hook-keepers,  captains  of  vessels,  and  others,  in  various  cities,  (par- 
ticularly in  New  York  and  Philadelphia,)  who  kindly  aided  him  in  his  labors,  both  by 
their  advice  and  by  furnishing  such  business  details  as  could  be  acquired  only  by  a  long 
pursuit  of  their  several  callings. 

s.  w.  c 

PmLADKLPHiA,  Sept.  1st,  1853. 


I* 


BRIEF  PLAN  OF  THE  WORK. 


This  work  embraces  illustrations  of  accounts  kept  by  both  Single  and  Double  Entry. 
In  the  Sincrle  Entry,  contained  in  the  first  57  pages,  four  sets  of  books  are  shown,  with 
entries  for°four  different  kinds  of  business,  each  set  being  preceded  by  explanatory 
remarks,  descriptions  of  the  books  used,  &c.,  and  followed  by  exhibits  of  gams  or  losses, 
and  of  net  capital  or  insolvency,  resulting  from  the  business,  and  by  ques^ons  for  review. 

The  author  has  endeavored  to  reduce  the  keeping  of  books  by  Single  Entry  (which  is 
at  best  only  a  series  of  memoranda)  as  nearly  to  scientific  principles  as  possible ;  but  in 
his  opinion  the  system  of  Double  JEritri/ oXone  deserves  the  appellation  of  Book-keeping ; 
and  any  one  who  becomes  thoroughly  master  of  it,  will  not  relinquish  it,  but  wiU  keep 
his  accounts  in  accordance  with  its  principles,  whether  engaged  in  business  on  a  limited 
or  an  extensive  scale.     The  greater  part  of  this  treatise  has  therefore  been  devoted  to 

Double  Entry  Book-keeping.  , ,    -n  j    •       j     ' 

In  this  Counting-House  edition,  the  elementary  portion  of  Double  Entry,  designed  to 
impart  a  general  knowledge  of  the  science,  embraces  three  different  methods  of  keeping 
books.  The  first  is  the  Italian  method,  so  called  from  its  supposed  origin,  and  by  this 
method  three  sets  of  books  are  given.  The  second  is  a  method  of  dispensing  with  the 
Journal,  and  using  a  Day-Book  in  Journal  form,  from  which  postings  are  made  direct  to 
the  Leger :— two  sets  of  books  are  thus  shown.  The  third  method  is  similar  to  the 
second,  with  this  variation,  that  the  Cash-Book  is  the  only  book  of  original  entry  for 
moneys  received  or  paid  out,  these  entries  being  transferred  from  the  Cash-Book  to  the 
Day-Book  at  the  end  of  each  month.  This  method  is  embraced  in  Set  VI,  which  illus- 
trates &  foreign  shipping  and  commission  business,  continued  for  three  years—two  part- 
ners for  the  first  two  years,  and  three  partners  for  the  third  year.  In  the  third  year  a 
new  Day-Book  and  Leger  is  introduced,  and  thefdnethod  of  transferring  accounts  from 
one  Leger  to  another  is  exhibited.  In  connection  with  Set  VI,  the  various  auxihary 
books  requisite  in  business  are  also  given  and  explained.  •  i      -n  v.    r 

Following  the  above-named  six  sets,  is  a  set  of  Steamboat  books,  which  wiU  be  found 
particularly  serviceable  to  clerks  on  our  Western  rivers  and  lakes. 

Lastly,  in  order  to  show  how  a  knowledge  of  Book-keeping  may  be  most  advantage- 
ously applied  to  any  specific  branch  of  business,  six  Practical  Forms  are  given,  embracing 
labor-saving  methods  of  keeping  books,  suited  to  mechanical,  professional,  retail,  whole- 
sale, jobbing,  importing,  manufacturing,  and  commission  business.  These  Forms  show 
how  the  general  principles  laid  down  in  the  elementary  portion  of  the  work  may  be 
applied  to  any  particular  method  of  keeping  books  which  shall  suit  the  taste  of  the  book- 
keeper, or  be  best  adapted  to  the  specific  kind  of  business.  They  exhibit  plans  for 
posting  from  one  or  more  books  of  original  entry,  without  journalizing,  making  the 
postings  to  the  various  property  accounts  in  monthly  totals,  while  personal  accounts  are 
posted  ^nWj— for  journalizing  monthly— fox  keeping  commission  hook^,  without  opening 
Sales  accounts  in  the  Leger,  &c.  &c. 

Full  explanations  of  the  nature  and  use  of  the  different  books  belonging  to  each  set ; 
the  manner  of  opening  and  closing  the  Leger  for  individual  or  partnership  business, 
commencing  with  capital  or  without  capital,  and  windii^g  up  with  gains  or  losses— capital 
or  insolvency ;  directions  for  writing  up  the  books,  and  also  for  the  detection  and  cor- 
rection of  errors ;  questions  for  review ;  Balance  Sheets,  with  instructions  how  to  make 
them  out ;  a  discussion  of  the  nature  and  object  of  the  different  Leger  accounts,  their 
modes  of  treatment,  and  the  manner  in  which  each  is  closed ;  and  a  Vocabulary  of  com- 
mercial terms,  together  with  explanations  of  the  abbreviations  and  characters  made  use 


^! 


i 


BRIEF  PLAN   . 

of  in  commercial  transactions,  will  all  be  found  in  their  appropriate  places,  and  may  be 
readily  referred  to  by  means  of  the  Table  of  Contents,  pages  3  and  4. 

At  the  close  of  the  book,  Commercial  Calculations,  Tables  of  Foreign  Coins  and 
Moneys  of  Account,  and  Time  Tables  are  given. 


<^ 


The  Series  of  Practical  Treatises  on  Book-keeping  by  Single  and  Doublb 
Entry,  of  which  this  volume  forms  a  part,  comprises  the  following  works : — 

1.  Elementary  Treatise  on  Book-keeping  for  Common  Schools. 

Key  to  the  same. 

Blank  Books,  for  writing  up  the  exercises  contained  therein. 

2.  Inductive  and  Practical  Treatise  on  Book-keeping  :  High-School  Edition. 

Key  to  the  same. 

Blank  Books,  for  writing  up  the  exercises  contained  therein. 

3.  Inductive  and  Practical  Treatise  on  Book-keeping  :  Counting-House  Edition. 

Key  to  the  same. 

Blank  Books,  for  writing  up  the  exercises  contained  therein. 

No.  .1,  of  the  Series,  was  prepared  with  reference  to  the  capacity  of  pupils  of  "  Com- 
mon" or  "  Grammar"  schools,  of  from  twelve  to  sixteen  years  of  age,  and  elucidates  the 
principles  of  the  science,  and  the  application  of  those  principles  to  the  more  simple 
modes  of  keeping  accounts,  so  that  they  may,  it  is  believed,  be  fully  understood  by  the 
class  of  pupils  referred  to.  It  contains  four  sets  of  books  by  Single  Entry,  illustrating 
four  different  kinds  of  business ;  and  six  sets  by  Double  Entry,  the  first  three  of  which 
are  kept  by  the  Italian  method,  the  fourth  and  fifth  have  a  Day-Book  in  Journal  form, 
so  as  to  dispense  with  the  Journal,  and  the  sixth  is  upon  the  plan  of  journalizing  monthly. 

No.  2,  of  the  Series,  is  suited  to  pupils  of  a  more  advanced  age,  and  a  higher  state  of 
progress,  and  is  designed  for  use  in  the  higher  schools,  academies  and  other  institutions 
of  learning,  in  the  United  Spates,  both  male  and  female,  public  and  private.  All  of  the 
Single  Entry  and  the  first  three  sets  ofJ)ouble  Entry  (by  the  Italian  method)  are  nearly 
the  same  as  in  the  treatise  for  CommoPSchools,  but  the  subsequent  sets  are  varied  and 
more  extensive.  It  contains  seven  sets  by  Double  Entry.  The  fourth,  fifth  and  sixth 
sets  are  without  a  Journal,  the  Day-Book  being  in  Journal  form.  The  fifth  illustrates 
domestic  shipping,  and  the  sixth  foreign  shipping  business.  The  seventh  is  a  plan  for 
journalizing  monthly,  and  illustrates  a  jobbing  and  importing  business. 

No.  3,  of  the  Series,  is  intended  as  a  book  of  reference  for  practical  book-keepers,  as  a 
text-book  for  commercial  schools,  or  institutions  designed  to  prepare  young  men  for  im- 
mediate entrance  upon  the  active  duties  of  accountants,  and  as  an  aid  to  private  students 
who  wish  a  full  and  complete  treatise.  It  is  precisely  like  the  High-School  edition  to 
the  end  of  the  sixth  set  by  Double  Entry.  Following  this,  is  a  set  of  Steamboat  books, 
and  six  different  Practical  Forms,  or  shortened  methods  for  keeping  books,  suited  to  me- 
chanical, professional,  retail,  wholesale,  jobbing,  manufacturing  and  commission  business. 
The  third  of  these  Practical  Forms  is  the  same  as  Set  VII  of  the  High-School  edition. 
This  edition  also  embraces  numerous  Commercial  Calculations,  a  knowledge  of  which  is 
essential  to  the  practical  accountant,  and  Tables  of  Foreign  Coins  and  Moneys  of  Account. 


One  word  as  to  the  style  used  by^e  author  in  this  work.  Knowing,  from  experience, 
the  great  advantages  to  be  derived  Irom  adopting  the  direct  address  in  teaching,  he  has, 
at  the  risk  of  incurring  the  charge  of  egotism^  made  use  of  pronouns  of  the  first  and 
second  person,  (I  and  You,)  instead  of  the  third  person ;  and  is  confident  that  those 
who  peruse  with  a  desire  to  obtain  information  will  be  pleased  that  all  formality  has 
thus  been  laid  aside,  and  the  conversational  style  adopted  in  its  stead.  To  those  whose 
sole  object  is  criticism,  it  need  only  be  said,  the  book  was  not  written  for  their  pleasure. 

.  8  . 


VOCABULABY 


OF 


ABBEEVIATIONS,  CHARACTERS,  AND  MERCAMTILE  TERMS, 

USED  IN  THIS  WORK. 


ABBREVIATIONS. 


f 


Adv. 

A&t 

Amer. 

Am't 

Ant. 

Apr. 

A$t'd  0] 

Aug. 

Bal. 

B.-B. 

Bbl. 

Bill*  Pay. 

Bill*  Rec. 

Rk 

Blk. 

Bo't 

Bro't 

Cap. 

C.-B. 

Co. 

Cord 

Com. 

Cout't 

Cr. 

J>.-B. 

Dee. 

Dtp. 

jr/t 

Die. 

Do. 

Dim. 

Dr. 

Dray, 


E.E. 

E.  A  0.  E. 

EmVd 

Eng. 

EnL 

Ex. 

Exeh. 

Emp'e 


Adventare. 

Account 

American. 

Amount. 

Answer. 

April. 

AEsortedL     , 

AugiBt. 

Balance. 

Bill-Book,  Buik-Book. 

Barrel. 

Bills  Payable. 

Bills  Receivable. 

Bank. 

Black. 

Bought 

Brought 

CapitaL 

Cash-Book. 

Company. 

Colored. 

Commission,  Commerce. 

Consignment 

Creditor. 

Day-Book. 

December. 

Deposited. 

Draft 

Discount 

I  Ditto.]    The  same. 
)osen. 
Debtor. 
Drayage. 
Days. 

Each. 

Errors  excepted. 
Errors  k  omissions  ex- 
cepted. 
Embroidered. 
English. 
Entry. 
Example. 
Exchange. 
Expenses. 


fa9. 

Feb. 

Fig'd 

fol. 

Formed 

Fr. 

Fr^t 

Oal. 
Guar. 

Hhd. 

I.-B. 

i.e. 

Int. 

Jntol. 

intt. 

Int. 
lup't 

Jan. 

Jour. 

JF. 

Lab. 
Iht. 
Leg. 
L.F. 

Mar. 
Mdte. 
m.  or  mo. 
MoU. 
Mat. 

N.B. 

No. 
Nov. 

Oct. 
O.-I.-D. 

P- 
Pay't 

P.-C.-B. 

P'ch't 

P'd 

P'k'g't 

P.d;L. 


Payor. 

February. 

Figured. 

Folio. 

Forward. 

French. 

From. 

FreighL 

Gallon. 
Gxiarantee. 

Hogshead. 

Invoice-Book. 

[Id  est]    Thatifl. 

Insurance. 

Insolvency. 

[Instant]    The  present 

month. 
Interest 
Inventory* 

January. 
JournaL 
Journal  folio. 

Labor. 
Pounds. 
Leger. 
Leger  folio. 

March. 
Merchandise. 

Month. 

Molasses. 

MutaL 

[Nota  Bene.]    Take  no- 
tice. 
Number. 
November. 

October. 
Outward-Invoice-Book. 

Page. 

Payment 

Petty-Cash-Book. 

Purchases. 

Paid. 

Packages. 

Profit  A  Loss. 


Per. 
Pr. 
pr. 
pr.  et. 

Prem. 

Prof. 

prox. 

Pt. 

Ree*d 
B.-B. 

S..B. 

Sept. 

Sh. 

Shtp't 

Sfb't 

Stor. 

JSund^t 

Super,  or  S. 

vis. 

vt. 

Weigh. 
Ydt. 


PersonaL 

Pair. 

[Per.]    By. 

[Per  centum.]    By  ths 

hundred. 
Premium. 
Profit 
[Proxima]    The  next 

month. 
Pieces. 

Received. 
Rail-roadT 

Sales-Book. 
September. 
Share. 
Shipment 
Steamboat 
Storage. 
Sundries. 
F.  Superfine. 

[Ultimo.]        The    last 
month. 

[Videlicet]     To  wit- 
namely. 
[Versus.]    Against 

Weighing. 

Yards. 
Year. 


+ 


u 

1» 
1« 

1» 


CHARACTERS. 

At 

Account 

Cents. 

[Per  centum.]    By  the 

hundred. 
Number. 
Sign  of  addition. 

"      "   subtraction. 

tt     **  multiplicative. 
«   division. 
"  equality. 
[Ditto.]    The  same. 
One  A  one-quarter. 
One  k  one-half. 
One  k  three-quarters. 


MERCANTILE  TERMS. 

Abatement,  a  deduction  or  discount  for  damages  on  goods,  or  for  payment  of  demands  before  due,  etc 

Aeoeptnneef  Ist  The  receiving  of  a  bill  of  exchange  or  order,  in  such  a  way  as  to  bind  the  acceptor  to  payment  It 
consb'ts  in  the  acceptor's  writing  across  the  face  of  the  bill  "Accepted,"  and  signing  his  name.  If  drawn  payaUi* 
at  a  certain  number  of  days'  sight,  the  date  of  acceptance  should  also  be  given.     2d.  A  bill  of  exchange  accepted. 

Accommodation,  a  loan  of  money.  When  applied  to  bills  of  exchange  it  is  where  the  dravaet  lends  his  name  for  t^e 
ose  of  the  drawer. 

Aeeount-Current,  an  exhibit  in  detail  of  a  running  account  between  two  or  more  parties. 

Aaconnt'SaltH,  an  exhibit  Of  the  sales  of  goods  disposed  of  on  commission,  with  Uie  charges  ineuired  thereon. 

Ad  valorem,  according  to  value.    An  ad  valorem  duty  is  a  certain  percentage  on  the  first  co8t»  or  invoice  priee. 


VOCABULARY. 


I*'  * 


[if 

P 

I! 


f 


.  I 


;t» 


'ii^ 


in  poues- 


Advanee,  additional  pncej  profit;  premium.    Money  paid  on  property  or  gooda  expected,  or  on  gooda^ 

sion  for  security. 
Adventure,  goods  sent  to  a  distance  to  be  sold  on  commission.    Any  speculation  in  Co. 
Advice,  mercantile  intelligence. 
Annuity,  a  sum  of  money  payable  periodically,  usually  yearly. 
Ante-date,  to  date  before  the  present  time ;  to  date  beforehand. 
Arbitration,  the  hearing  and  determination  of  a  cause  between  parties  in  controyersy,  by  a  person  or  persons  chosen 

for  the  purpose.     A  hearing  before  arbitrators  though  they  make  no  award. 
Atteta,  available  means  for  payment  of  debts ;  goods,  estate,  and  indebtedness  of  others. 
Atngnee,  one  to  whom  an  assignment  is  made.     One  appointed  or  deputed  for  some  specific  purpose, 
AMignment,  conditional  transfer  of  property  to  another.     The  property  so  transferred. 
Anignor,  one  who  makes  an  assignment. 
Attachment,  a  claim  on  property  legally  executed. 
Aune,  a  French  cloth  measure,  one  yard  and  a  quarter. 
Average,  sums  allowed  for  losses  at  sea.    A  medium  time  found  by  equation. 

Balance,  to  close  an  account  in  the  Leger.    Difference  between  the  debits  and  credits.    An  account  in  the  Leger,  into 

which  all  balances  are  closed. 
Bankrupt,  insolvent.     One  unable  to  pay  his  debts. 
Bill,  or  Bill  of  ParceU,  a  statement  in  detail  of  goods  bought  or  sold. 
Billa,  a  term  applied  to  drafts,  notes,  etc. 
Bill  of  Entry,  a  list  of  goods  entered  at  the  Custom-house. 
BiU  of  Exchange,  an  order  for  the  payment  of  money;  usually  applied  to  drafts  on  persons  in  another  state  «r  country 

from  the  drawer.  *  .  .         . .  -^ .  .       . 

Bill  of  Lading,  a  written  account  of  goods  shipped,  having  the  signature  of  the  master  of  the  vessel  on  whi^hippeo. 
Bill  of  Sale,  a  contract,  under  seal,  for  the  sale  of  goods.  ^W 

BiU  of  Store,  a  Custom-house  license  for  carrying  to  sea  ship-stores  and  provisions  free  of  duty.  ^ 

Blank  Credit,  permission  granted  by  one  house  to  another  to  draw  on  it  at  pleasure  to  a  specified  amount^ 

Bona  fide,  in  good  faith.  ,<.,.,.  x  jj««*_»        * 

Bond,  a  note.    An  obligation  or  deed  by  which  a  person  bmds  himself,  his  heirs,  executors,  and  administrators,  to 

pay  a  certain  sum  on  or  before  a  certain  day. 

Bonded  goods,  those  for  the  duties  on  which  bonds  are  given  at  the  Custom-house. 

Bottomry  Bond,  a  mortgage  or  lien  upon  a  vesseL 

Brace,  a  measure  of  §  of  a  yard. 

Broker,  a  money  or  stock  trader.     Factor ;  agent. 

Brokerage,  a  percentage  for  the  purchase  and  sale  of  money  and  stocks. 

Capital,  stock  in  trade.  "■ 

Cargo,  the  lading  or  freight  of  a  vesseL 

Catty,  a  Chinese  weight  of  IJ  lbs.  avoirdupois. 

Carrying  trade,  the  transportation  of  goods  by  vessels  from  country  to  country.  ,     .     , 

Charter-party,  a  written  agreement  between  the  owner  of  a  vessel  and  the  person  to  whom  she  is  chartered. 

Circular  letter,  a  printed  notice  issued  by  a  house,  relative  to  its  business.  -i       j         • 

Clearing  a  vessel,  entering  at  the  Custom-house  all  particulars  relating  to  her  when  she  is  ready  to  sail,  and  paying 

clearance  charges. 
Clearance,  a  certificate  from  a  Custom-house  that  a  vessel  has  been  cleared.  .       •    .     ,      j 

Closing  an  accotmt,  making  an  entry  to  balance  it,  and  drawing  lines  underneath  to  indicate  that  it  is  closed. 
Coeket,  a  Custom-house  warrant  to  show  that  goods  have  been  entered. 
Commission,  a  percentage  allowed  for  the  sale  of  goods. 

Compound,  to  settle  with  a  creditor  by  agreement,  and  discharge  a  debt  by  paying  a  part  of  its  amount 
Compromise,  an  adjustment  of  differences  by  mutual  concessions. 
Consignee,  one  to  whom  goods  or  wares  are  consigned. 
Consignment,  goods  sent  to  an  agent  to  be  sold  for  the  consignor. 
Consignor,  the  person  making  a  consignment. 

Contraband  goods,  articles  prohibited  by  law  to  be  imported  or  exported,  . 

Contra,  on  the  other  side ;  opposite. 
•    Convoy,  ships  of  war  sailing  with  other  vessels  as  a  protection. 

Co-partnership,  the  union  of  two  or  more  persons  for  purposes  of  trade. 

Counter  order,  a  revocation  of  a  former  order.  .      «,. 

Credit,  that  side  of  an  account  which  shows  the  amount  due  to  the  person  or  thing  represented.     The  amount  of 

confidence  reposed  in  another.  ,      ,     . 

Cuutom-house,  the  house  where  vessels  are  entered  and  cleared,  and  where  the  duties  on  goods  are  paid. 

Davs  of  grace,  the  days  allowed  for  the  payment  of  a  bill  after  it  becomes  due.  In  the  United  States,  and  in  Great 
Britain  and  her  dependencies,  the  number  of  days  of  grace  is  three;  but  it  varies  very  much  in  other  commercial 
states,  reaching  30  days  in  Genoa,  there  being  none  aUowed  at  Leghorn.  BiUs  drawn  at  sight  are  usually  paid 
when  presented,  without  grace.  j.      *    i 

Debenture,  drawback  of  duties  on  goods  imported,  when  afterward  exported  according  to  law. 

Debit,  that  side  of  an  account  which  shows  the  indebtedness  of  the  person  or  thing  represented. 

Defalcation,  deduction ;  diminution.     That  which  is  deducted  or  cut  off. 

Demurrage,  forfeit  money  for  detaining  a  vessel  beyond  the  time  specified  in  her  Charter-party. 

i>«iH)«,  a  place  where  goods  are  deposited;  a  depository;  » magazine.  ,  .  ,  -   .  .- 

Owiation,  the  voluntary  departure  of  a  vessel,  without  necessity,  from  the  regular  and  usual  course  of  the  specific 
voyage  insured,  which  frees  the  underwriters  from  obligation. 

Discount  any  deduction  from  the  stipulated  price  of  goods,  or  from  a  sum  due  or  to  be  due  ai  a  future  time. 

Dividend,  gains  on  stock,  shares  in  trade,  etc. 

Dock,  a  place  to  build,  repair,  or  lodge  vessels.  . .,,    r. 

Draft,  an  order  from  one  person  on  another  for  the  payment  of  money ;  a  bill  of  exchange. 

Drawer,  the  one  who  draws  a  bill  or  draft  on  another.     The  maker  of  a  note. 

Drawee,  the  person  on  whom  a  biU  is  drawn. 

10 


VOCABULARY. 

Prawbaek,  amount  paid  back.    Any  loss  of  advantage,  or  deduction  from  profit. 

Duplicate,  a  copy. 

Dutjff  a  government  tax  on  exported  or  imported  goods. 

Effects,  money,  property  on  hand,  and  debts  due. 

A7/  Flemish  {E.  FL),  a  measure  of  i  yd. 

Embargo,  a  restraint  on  ships  by  Government;  or  prohibition  of  sailing  either  out  of  port,  or  into  port,  or  both. 

Emporium,  a  mart     A  town  or  city  of  trade ;  particularly  a  commercial  city. 

Endorse,  to  write  one's  name  on  the  back  of  a  bill ;  to  become  obligated  for  its  payment 

Entry,  a  record  made  in  an  account  book.    The  depositing  of  a  ship's  papers  at  the  Custom-house,  to  procure  license 

to  land  goods. 
Engross,  to  monopolize ;  to  purchase  the  whole  or  large  quantities  of  commodities,  in  market,  so  as  to  enhance  the 

price. 
Equity  of  redemption,  the  advantage  allowed  to  a  mortgager,  of  a  reasonable  time  to  redeem  lands  mortgaged. 
Exchange,  the  giving  of  one  commodity  for  another.    The  place  where  merchants,  bankers,  and  brokers  meec,  at 

certain  hours,  to  transact  business.     Discount  and  premium  arising  from  the  purchase  and  sale  of  bills  and  money. 

Face,  the  amount  for  which  a  bill  is  drawn. 

Fac-Simile,  an  exact  copy. 

Factor,  an  agent  employed  by  merchants  to  buy  and  sell,  or  transact  business,  on  their  account 

Failure,  a  breaking  or  becoming  insolvent 

Favor,  a  bill  is  said  to  be  drawn  in  favor  of  the  person  to  whom  it  is  payable. 

Finance,  or  Finances,  revenue;  funds  in  the  public  treasury.     The  resources  or  income  of  individuals. 

FinancieTf  one  skilled  in  money  matters.    A  revenue  officer. 

Firm,  the  name  or  title  under  which  a  company  transact  business ;  a  partnership,  or  house. 

Flat,  low,  [as  to  the  prices  of  goods ;]  or  dull,  [as  to  sales.] 

Foreclose,  to  foreclose  a  mortgage  is  to  cut  a  mortgager  off  from  his  equi^  of  redemption. 

Folio,  page  of  an  account  book ;  both  the  right  and  left  hand  pages  expressed  by  the  same  figure. 

Freight,  lading;  that  which  is  carried  by  water.    6am  charged  by  a  vessel  for  the  transportation  of  goods. 

Guarantee,  or  Guaranty,  indemnity  or  security  against  loss ;  a  pledge  for  the  fulfilment  of  stipulations ;  one  who  binds 

himself  to  see  the  stipulations  of  another  performed. 
Grace,  see  Days  of  grace. 


Honor,  as  applied  to  drafts,  means  to  accept  and  pay  when  due. 
Hypothecate,  to  pledge ;  to  give  as  security. 
Hypothecated,  pledged,  as  security  for  money  borrowed. 


'"*^ 


Importation,  the  bringing  of  goods  from  another  country  to  one's  own  country.    The  commodities  imported. 
Insurance,  security  against  loss.     The  premium  paid  for  insuring  property  or  life. 

Insolvent,  not  having  money,  goods,  or  estate  sufficient  to  pay  all  debts.     A  debtor  unable  to  pay  his  debts. 
Instalment,  a  part  of  a  sum  of  money  paid,  or  to  be  paid,  at  a  particular  period. 
Interest,  a  percentage  paid  for  the  use  of  money. 
International,  relating  to  the  mutual  intercourse  between  different  nations. 
Inventory,  an  account  in  detail  of  property. 

Invoice,  see  Inventory.     Inventory  is  generally  applied  to  a  catalogue  of  goods  on  hand;  Invoice,  to  goods  purchased, 
received  from  abroad,  or  about  to  be  shipped. 

Land  Waiter,  a  Custom-house  officer  whose  duty  it  is  to  wait  or  attend  on  the  landing  of  goods. 

Lease,  a  contract  granting  possession  of  property  for  a  stipulated  time. 

Letter  of  Attorney,  a  writing  by  which  one  person  authorizes  another  to  act  in  his  stead. 

Letter  of  Credit,  a  letter  authorizing  one  person  to  receive  funds  on  the  credit  of  another. 

Letter  of  License,  a  written  permission  to  a  person  under  embarrassment  to  conduct  his  business  for  a  time  without 

molestation. 
Letter  of  Marque,  a  written  commission  or  authority  given  by  government  to  private  vessels,  to  make  reprisals  on  th* 

vessels  of  another  nation. 
Liabilities,  debts  of  an  individual,  or  claims  against  him. 
License,  a  legal  permit  to  sell  certain  articles  of  merchandise. 
Lien,  legal  claim,  as  a  lien  upon  land,  houses,  Ac. 
Lighter,  a  craft  used  to  lighten  vessels  in  shoal  water. 
Lighterage,  a  charge  for  carrying  goods  to  and  from  a  vessel  in  a  lighter. 
Liquidation,  the  act  of  adjusting  and  paying  debts. 

Manifest,  an  exhibit  of  a  vessel's  cargo. 

Mart,  a  place  of  public  sale  and  traffic. 

Maturity,  the  time  when  a  bill  falls  due. 

Maximum,  the  highest  price  of  an  article. 

Merchandise,  the  usual  articles  of  trade. 

Metre,  a  measure  of  1^^  yds. 

Minimum,  the  lowest  price  of  an  article. 

Mint,  a  place  where  money  is  coined. 

Mortgage,  the  grant  of  an  estate  in  fee,  as  security  for  the  payment  of  money. 

Mortgager,  the  person  who  grants  or  pledges  property,  for  security  of  debt 

Mortgagee,  the  person  to  whom  an  estate  is  mortgaged. 

Net  proceeds,  the  remunder  after  deducting  all  charges  from  the  amount  of  gross  sales. 

.^e*  weight,  the  weight  of  a  commodity  after  deducting  lare,  and  all  other  allowances.  • 

Non  claimf  a  failure  to  claim  within  the  time  limited  by  law.     Omission  of  claim. 

11 


m 


VOCABULARY. 

Notary,  or  Notary  Public,  a  person  legaUy  authorized  to  attest  contract!.,  or  writings  of  any  kind;  •bo  to  Uke  noU 

of  the  non-payment  of  bills,  promissory  notes,  Ac.,  which  is  called  protesting. 
Note,  a  written  obligation  to  pay  money.     A  memorandum. 

Obligation,  indebtedness.    A  bond,  with  a  consideraUon  annexed,  and  a  penalty  for  non-fulfilment 

Obligee,  the  person  to  whom  another  is  bound. 

Obligor,  the  person  who  binds  himself,  or  gives  his  bond  to  another.  ^       a^  ^f  .«^n,«r  in  writing 

Order,  a  request  to  deUrer  or  pay  to  a  person  certain  moneys  or  goods.    Any  request  made  of  another  in  wnting. 

Par  of  Exchange,  the  intrinsic  value  of  money,  when  compared  with  that  of  other  countries,  both  in  weight  aiui 

fineness. 
Partnerthip,  see  Co-Partner$hip. 
Payee,  the  person  to  whom  money  is  to  be  psdd. 
Per  annum,  by  the  year. 

PictW,  a  Chinese  weight  of  133i  lbs.  avoirdupois.  ;♦•  ♦.»»i,a  ln«iir«d  i«  effected 

Polii^,  or  Policy  oflnBuranee,  the  writing,  or  instrumoni,  by  which  a  contract  of  indemnity  to  the  insured  is  effect^tt 

between  him  and  the  insurer. 
Portage,  the  incidental  sums  paid  by  a  Captain  in  running  his  vesseL 
Pottdate,  to  date  after  the  real  time. 
Potting,  transferring  the  Journal  entries  to  the  Leger. 
Potcer  of  Attorney,  authority  given  to  a  person  to  act  for  another. 

Price  Current,  a  list  of  various  articles  of  Mdse.,  with  their  market  valuef.  „.^,i:.»:„^*!n„  »«  Jnti,re«L 

Principal,  the  chief  of  a  commercial  house  or  firm.     Capital  sum  due,  lent,  or  owed,  in  contradistinction  to  interest 
Primage,  a  percentage  allowed  to  the  master  of  a  vessel  on  the  amount  of  freight  transported.  .„„th«r 

Procuration,  the  act  of  procuring.     The  instrument  by  which  a  person  is  empowered  to  transact  business  for  'inothe^ 
Pro/orma,  according  to  form.     Thus  a  pro  forma  Account-Sales  is  an  imaginary  Account^Sales,  made  out  in  form 

of  a  real  one,  to  send  to  parties  abroad,  to  give  information  of  prices,  charges,  commission,  Ac. 
Promutory  J^o<e,  a  writing  which  contains  a  promise  of  the  payment  of  money,  or  the  dcUvery  of  property  at  of 

Prot^J"':m^^slcZ;^U  declaring  that  a  biU  was  not  accepted  when  presented,  or  was  not  paid  when  it  fell  due. 

Quarantine,  restraint  of  intercourse  to  which  a  ship  is  subjected,  for  a  limited  term,  on  the  presumption  that  she  may 
be  infected  with  a  malignant,  contagious  disease. 

Bate  of  Exchange,  the  per  centum  above  or  below  the  par  value  of  a  bill  of  exchange. 

Jiebate,  or  Bebatement,  abatement  of  price;  deduction  for  prompt  payment. 

Receipt,  a  writing  acknowledging  the  receipt  of  money  or  goods. 

Remittance,  bills  or  money  sent  from  one  house  to  another.     The  act  of  sending  the  saiiM. 

/^enewuU/ a /?»«,  prolonging  the  time  of  payment.  ^■         a       a     ,. 

Resoureea,  funds,  money,  or  that  which  may  be  converted  into  suppbes.     bee  A$tet$. 

Salvage,  a  reward  allowed  for  saving  property  from  loss  at  sea. 
Schedule,  a  piece  of  paper  or  parchment  containing  an  inventory  of  goods. 
^a-worthy,  fitted  in  every  respect  for  a  voyage. 

Seize,  to  take  nossession  by  virtue  of  a  warrant,  or  legal  authority.  .       . 

&tofExfhanl,  a  numbef  of  BilU  of  Exchange,  (usually  three,)  drawn  of  ^^^^^^  ^^^\;fj^-.^^l,\f  ^^ 
forwarded  by  a  different  conveyance,  to  prevent  faUures,  and  one  of  them  being  paid,  the  remainder  are  ot  no 

Shipment,'  the  act  of  putting  goods  on  board  a  vesseL    The  goods  shipped. 

Sight,  or  at  tight,  the  time  when  a  bill  is  presented  to  the  drawee. 

Signature,  the  name  of  a  person  written  or  subscribed  by  himself. 

Sine  die,  without  fixing  the  day.  j.»i^- 

Sine  qua  nan,  without  which  a  thing  cannot  be ;  hence  an  indispensable  condiUon. 

Smuggling,  passing  goods  into  a  country  clandestinely,  without  paying  duties. 

Solidity,  the  estimate  a  mercantile  house  bears  as  to  property. 

Solvent,  able  to  pay  all  debts.  „     ,       . ,.  , ,    *         •  i. 

Staple  Qoodt,  the  principal  produce  of  a  country.    Goods  not  liable  to  perish. 

Stock    canital  invested  in  trade.     Goods  on  hand.    The  name  of  a  person  in  bMincss. 

?«re*y,Tmi;y  ^nst  loss  or  damage.     One  bound  for  the  payment  of  another's  debts ;  bondsman ;  balL 


^m^ 


m'i^l^^ 


BY 


13 


Tare,  an  aUowance  for  the  weight  of  boxes,  barrels,  Ac,  in  which  Mdse.  is  put  np. 

Tariff,  a  list  or  table  of  duties  or  customs  on  Mdse.  imported  or  exported. 

Teller,  an  officer  of  a  bank,  employed  to  receive  deposits  or  pay  money  on  checks. 

Tide.\o^tert,  officers  who  watch  the  lading  and  unlading  of  vessels,  to  secure  duUes,  as  a 

r.>nn^,*'thrweight  or  measurement  of  goods  carried  in  a  vessel,  or  the  capacity  of  »/«»«J; 
TrZtfe^,  to  carr;  from  one  account  to  another.     To  make  over ;  to  convey  from  one  to  another 
Trmue,  a  person  to  whom  any  thing,  or  business,  is  committed. 

Vndermitert,  persons  who  insure  property  against  loss. 
Utury,  formerly  interest— in  present  usage,  illegal  interest. 

Voucher,  a  book,  paper,  or  document,  which  serves  to  vouch  the  truth  of  acoounti. 

Wharfage,  money  paid  for  the  use  of  a  wharf.  j 

Wreckert,  person?  employed  in  savLng  property  from  shipwreck. 


check  on  oontraban4 


12 


L\'i 


INTRODUCTION 


TO 


SINGLE  ENTRY  BOOK-KEEPING. 


Book-Keepino  it  the  tcienee  of  aceountt,  and  teaches  how  to  preserve  a  correct 
record  of  all  business  transactions.  There  are  two  distinct  methods  of  keeP'ng 
accounts,  termed  Book-Keeping  by  Single  Entry  and  Book-Keeping  by  Dovhle  Entry . 

In  Simh  Entry  Book-Keeping,  each  entry  is  a  nngle  entry,  that  is,  consists  ol  tmt 
one  debitUr  one  credit;  while  in  Loubk  Entry  Book-Keeping,  erery  entry  contauis 

both  a  debit  and  a  credit.  .  i_  *„  „^^a 

The  principles  of  Single  Entry  are  so  easy  of  comprehension  as  scarcely  to  need 
explanation.  Accounts  are  usually  kept  only  with  the  persons  with  whom  you  have 
deaUngs,  and  although  a  Cash  account.  Merchandise  account,  and  other  property 
accounts  may  be  keptf  yet  just  so  far  as  you  introduce  any  other  accounts  except  those 
with  persons\ho  owe  you,  or  whom  you  owe,  so  far  do  you  encroach  upon  the  peculiar 
province  of  Double  Entry,  as  is  more  fully  explained  on  page  oO. 
^  The  principal  books  of  entry  are  a  Day-Book  and  Leger.  Besides  these  there  are 
several  smaller  books  which  are  convenient,  and  some  of  which  are  absolutely  essential 
to  be  kept.  These  are  usually  termed  auxiliary  books,  and  vary  in  number  and  torm 
according  to  the  business.  They  wiU  all  be  described  and  shown  m  the  subsequent 
pages  of  this  book.  Of  these  the  Cash-Book  is  the  most  important,  and  should  never 
be  dispensed  with  where  there  are  any  considerable  dea,lings  in  cash.  In  it  all  receipts 
and  piyments  of  cash  are  entered,  and  it  is  a  constant  check  upon  your  cash  transactions 
to  test  their  accuracy. 

The  Day-Book.— All  transactions  are  entered  in  this  book  which  require  a  debit  or 
credit  to  any  person  with  whom  you  have  dealings.     The  form  of  entry  is  very  simple 
th^:  "John  Brown  Dr.    To  e'lbs.  Nails  @  7^,  42;^  "  or  "Samuel  Henry  Cr     By 
Cash  on  %  $5.00 ;"  in  every  case  specifying  the  details  which  constitute  the  debit  or 
credit.     This  is  the  only  book  from  which  posts  are  made  to  the  Leger. 

The  Leger.— Into  this  book  all  sums  entered  in  the  Day-Book  are  transferred,  an 
account  being  opened  with  each  diiferent  person,  into  which  every  debit  and  credit  made 
Tthat  person  is  collected.  This  process  is  called  posting,  and  the  advantages  derived 
from  it  are,  that,  by  looking  at  any  person's  account  in  the  Leger,  you  can  see  at  a 
gknce  your'whoi;  dealings  ^ith  that  person,  and  also  the  tah^B?*  which  is  due  him  or 
f  ou,  which  you  could  not  find  without  much  trouble  and  great  liability  to  error,  if  the 
imonnts  of  debit  and  credit  were  all  left  standing  scattered  through  the  Day-Look. 


SET  I,  SINGLE  ENTRY 


1^ 


M 


14 


\ 


EXPLANATORY  REMARKS,  SET  I. 

CASH-BOOK,  SET  I. 

The  Cash-Book  [see  page  19]  is  a  simple  memorandum-book  for  keeping  the  Cash 
account  correctly.  There  are  various  ways  of  keeping  the  Cash-Book,  but  the  form 
here  shown  is  perhaps  as  simple  as  any,  as  easily  kept,  and  as  little  liable  to  mistakes, 
for  persons  whose  cash  transactions  are  not  very  numerous,  and  who  are  not  scientific 
accountants.     It  contains  two  columns  for  dollars  and  cents.*  .      j  •     .v- 

Whenever  money  is  received  from  any  source  whatever,  it  must  be  entered  m  this 
book  as  "Rec'd,"  (describing  for  what,)  and  the  amount  must  be  extended  into  the  lejt 
hand  dollar  and  cent  column,  which  is  called  the  debit  column ;  and  whenever  money  is 
paid  out  for  any  purpose  whatever,  it  must  also  be  entered  m  tins  book  as  Faid, 
ftelling  for  what,)  and  the  amount  extended  into  the  right  hand  do  lar  and  cent  column, 
called  the  credit  column.  Thus,  if  the  account  is  kept  correctly,  the  diflference  between 
these  two  columns  will  show  at  all  times  the  balance  of  cash  on  hand,  and  will  agree 
with  the  actual  amount  of  money  in  possession,  counting  that  which  is  deposited  m 
bank,  as  well  as  what  is  in  the  store  or  shop ;  and  if  it  does  not  so  agree,  there  has  been 
some  error,  which  must  be  searched  for  and  corrected.  The  credit  column  can  never 
be  the  larger,  since  it  is  impossible  to  pay  out  more  money  than  you  receive. 

The  Cath-Book  should  be  balanced  at  the  end  of  each  week—or  daily,  when  much 
business  is  done—by  entering  in  the  credit  column  the  balance  of  ca^h  on  hand,  (usually 
done  in  red  ink,)  ruling  and  footing  both  columns,  and  underneath  the  closure  entermg 
the  balance  on  hand  (in  black  ink)  in  the  debit  column.  ..      n    v,  -d    v  v^ 

The  Cash  account  may  be  tested  at  any  time,  without  balancing  the  Cwh-Book,  by 
finding  the  difference  between  the  debit  and  credit  columns,  on  a  sera?  of  paper,  and 
comparing  that  difference  with  the  cash  on  hand.  This  should  be  done  daily,  when  the 
Cash-Book  is  balanced  only  once  a  week. 

DAY-BOOK,  SET  I. 

Whenever  you  do  a  job  of  work  for  any  person,  or  sell  him  any  thing,  or  pay  him 
money,  or  he  in  any  other  manner  becomes  indebted  to  you,  he  must  be  charged  (or 
debited)  with  the  same  in  this  book,  to  show  that  he  owes  you.  And  whenever  any 
person  sells  you  any  thing,  pays  you  money,  or  does  work  for  you,  or  you  in  any  other 
manner  become  indebted  to  him,  he  must  be  credited  with  the  same  in  this  book,  to  show 
that  you  owe  him,     [See  form  of  entry,  page  20.]  .        i  •  v  •  i, 

TWs  is  the  only  book  from  which  you  post,  and  therefore  every  entry  which  you  wish 
to  bring  into  any  account  in  the  Leger  must  be  entered  here.  Erasures ^re  not  allow- 
able in  the  Day-Book,  as  they  look  suspiciovi^  and  frequently  render  invahd  the  evidence 
of  entries  therein.     [See  remarks  on  detection  and  correction  of  errors,  page  lll.J 

In  eni^rmg  purchases,  it  is  allowable  to  say,  "Am't  as  pr.  Bill  or  "Amt  as  pr 
Invoice,"  and  omit  the  detail  of  items,  smce  you  have  the  Invoice  filed  away,  or  pasted 
in  a  book,  so  that  you  can  refer  to  it  at  any  time ;  but  in  entering  Sales,  the  items  should 
always  be  mentioned  in  your  Day-Book,  as  this  is  your  legal  evidence  of  the  transaction; 
and  m  order  to  be  taken  as  evidence,  each  article  must  be  distinctly  named. 

LEGER,  SET  I. 

This  Leger  contains  the  accounts  of  persons  only,  and  is  used  for  collecting  m  one 
Dlace  all  the  items  of  debit  and  credit  belonging  to  any  one  man,  which  are  found  scat- 
Led  in  separate  entries  over  many  pages  in  the  Day-Book;  and  thus  Presenting  th^ 
account  before  us  complete,  for  ascertaining  the  gross  amount  of  debit  and  credit  and 
the  balance  due  either  party ;  and  also  affording  an  easy  reference  to  the  various  items, 
by  the  date  and  page  of  the  Day-Book. 

♦  The  pupil  wiU  observe  that  throughout  the  book,  in  speaking  of  the  money  columns,  I  designate  the 
vpace  for  dollars  and  the  space  for  cents,  united,  as  but  one  column. 

16 


DEFINITIONS, 

As  some  may  be  at  a  loss  to  know  the  true  meaning  of  the  words  debtor  and  creditor, 
debit  and  credit,  I  will  here  define  them  as  used  in  Single  Entry. 

Debtor,  the  person  who  owes  you. 

Creditor,  the  person  whom  you  owe. 

Debit — as  a  verb — to  make  the  proper  entry  of  a  person's  indebtedness  to  you : — 
as  an  adjective — that  side  of  a  person's  account  which  shows  his  indebtedness  to  you. 

Credit — as  a  verb — to  make  the  proper  entry  of  your  indebtedness  to  another  per- 
son : — as  an  adjective — that  side  of  a  person's  account  which  sliows  your  indebtedness 
to  him. 

For  a  more  perfect  definition  of  these  words,  and  a  fuller  explanation  of  their  true 
philosophy,  see  the  Introduction  to  Double  Entry,  pages  61  and  62.  Also,  for  the 
definition  of  any  terms,  words,  or  abbreviations  which  you  do  not  understand,  refer  to 
the  Vocabulary,  pages  9-12. 

s 

INSTRUCTIONS  FOR  WRITING  UP  CASH-BOOK  AND  DAY-BOOK,  SET  I. 

The  intention  is,  that  Sets  I  and  II  shall  be  written  on  loose  sheets  of  paper  for  practice,  and 
then  Set  III  may  be  written  in  the  blank  books  which  accompany  this  work.  This  previous 
practice  on  loose  sheets  will  enable  the  pupil  to  fill  his  blank  books  neatly  and  correctly.  Ruling 
the  sheets  will  be  also  very  useful  to  the  pupil,  as  he  will  be  able  to  rule  his  Legers  and  other 
books  much  more  book-keeper-like  after  this  practice.  The  rulings  in  books,  except  the  ordinary 
fiiint  lines  for  writing  on,  look  better  to  be  in  red  ink. 

Prepare  some"  paper,  ruled  after  the  patterns  given  for  the  different  books.  Then  in  the  Cask- 
Book  enter  the  amount  of  cash  at  commencing  business,  on  the  Ist  day  of  September,  and  the 
amounts  paid  out  for  paints,  &c.,  on  the  same  day;  and  in  the  Day-Book  enter  the  debit  to  B« T. 
Stokes.  Next,  enter  in  the  Cash-Book  the  payments  out  for  gold  leaf,  step  ladders,  and  m^lin 
on  the  2d  inst. ;  and  in  the  Day-Book  the  debits  to  Mayland,  Morris  &  Co.,  and  to  T.  TcmpletoB. 

Follow  this  with  the  receipt  of  cash  in  the  Cash-Book,  on  the  3d  inst. and  this,  again,  with 

the  entries  in  both  Cash-Book  and  Day-Book,  on  the  4th  inst. 

Having  completed  the  first  week,  l]^lance  your  Cash-Book,  and  bring  the  balance  down  to  the 
beginning  of  the  subsequent  week.  Continue  the  entries  of  this  week  in  the  Cash-Book  and 
Day-Book,  in  order  of  date,  the  same  as  the  preceding,  and  so  on,  successively,  balancing  your 
Cash-Book  at  the  close  of  each  week,  until  you  come  to  the  end  of  the  month. 

It  makes  no  difference  in  which  book  the  entries  of  any  given  day  are  Jirst  made,  as  in  a  real 
business  the  entry  would  be  put  down  at  the  time  of  the  transaction,  and  would  be  sometimes 
placed  in  the  Cash-Book  and  sometimes  in  the  Day-Book,  according  to  its  nature.  Some  trans- 
actions, however,  require  an  entry  in  each  book  at  the  same  time ;  as,  for  instance,  on  the  4th 
inst.,  Geo.  L.  Scarles  is  credited  with  his  wages,  and  charged  with  cash  on  account  in  the  Day- 
Book,  and  then  the  cash  is  recorded  also  in  the  Cash-Book.  A  little  observation  and  thought, 
fiowever,  will  enable  you  to  discover  which  transactions  require  entering  in  both  books,  and  which 
only  in  one. 

You  will  perceive  some  of  the  hands  employed  have  accounts  opened  with  them  in  the  Leger, 
and  some  have  not.     Those  paid  in  full  at  the  end  of  each  week,  have  not 

INSTRUCTIONS  JOR  WRITING  UP  LEGER,  SET  I. 

After  having  finished  writing  up  the  Cash-Book  and  Day-Book,  as  just  described,  the  next  step 
ia  to  post  the  entries  from  the  Day-Book  to  the  Leger.     This  is  done  as  follows : — ^The  first  entry- 
in  the  Day-Book  is  a  debit  to  Stokes,  for  whom  you  open  an  account  on  the  Leger,  thus :  "* 

*^  Dr. Bailey  T,  Stokes 6V.;"  [see  page  22;]  then  on  the  debit  side,  underneath 

thb  heading,  place  the  date,  description,  Day-Book  folio,  and  amount,  as  found  in  the  Day-Book, 
'which  conjpletes  the  post  of  the  1st  inst.     ^eni  post-mark  the  entry,  t.  e.  place  the  folio  of  vbe 
Leger  to  which  it  is  taken,  in  the  left-hand  marginal  column  of  the  Day-Book. 

Underneath  the  account  of  Stokes  in  the  Leger,  open,  in  the  same  manner,  an  account  for 
Mayland,  Morris  &  Co.^  leaving  a  sufficient  space  for  all  the  entrien  that  will  probably  be  poetefl 

0  17 


^->r- 


II 


II 


f  INSTRUCTIONS  {continued). 

to  Stokes.  On  the  debit  side  of  this  aecount  post  the  entry  of  the  2d  inst,  post-marking  it  in 
the  Bay-Book,  to  show  that  it  is  posted.  Follow  this  with  the  account  of  Thomas  Templeton, 
and  so  on,  successively,  opening  an  account  in  the  Le^er  for  each  different  name.  But  when 
entries  to  any  person  occur  subsequently  to  haying  opened  an  account  with  that  person  in  the 
Leser  post  all  such  subsequent  entries  into  the  account  abeady  opened.  Credits  must  be  posted 
to  the  credit  side  of  the  account;  and  where  there  is  both  a  debit  and  a  credit  in  the  same  entry, 
as  in  the  entry  to  Searles  on  the  4th  inst.,  it  requires  two  posts,  one  on  each  side  of  the  account. 
Any  accounte  which  are  paid  in  full,  as  that  of  Stokes  «n  the  7th  inst.,  may  be  closed  at  the  time, 
and  entries  occurring  subsequently  must  then  be  posted  underneath  the  closure. 

When  the  whole  month  has  been  posted,  you  may  re-examine  each  item,  checking  the  entries 
with  a  pencil  in  the  Day-Book  and  Leger,  to  be  sure  that  no  mistakes  have  been  made.  Ihis  is 
the  onlftestof  correctness  that  exists  in  Single  Entry  Book-Keeping,  and  is  quite  es^ntial  if  you 
would  avoid  errors,  which  are  very  apt  to  occur  in  posting.  After  satisfying  yourself  of  the  accu- 
racy  of  your  work,  you  may  proceed  to  close  up  your  Leger,  as  you  would  at  the  ^fV^^l'^^  ^f  a 
^a^  in  actual  business.  Those  accounts  which  have  been  paid  in  full,  if  not  closed  at  the  set  le- 
ment,  may  now  be  closed  by  ruling  them  according  to  the  sample  given,  and  adding  up  the 
accounts  if  they  need  adding  up.  Those  accounts  which  have  debit  or  credit  balances  still 
"n^Uled,  m^^^^^^^  be  closed^y  making  a  red  ink  entry,  (indicated  hj  Italics,)  on  the  jailer 
Xof  the  account,  saying,  "  To  Bal  to  ^w  %,"  or  "  By  Bal  to  n^  %r  mlmg  and  footing 
up  the  account,  aid  placing  the  balance  underneath  the  closure,  on  the  opposite  side  of  the 
account. 


In  the  printed  Leger  given,  you  will  observe  that  the  ^erfendicuTxir  lines  are  interrupted  by 
spaces  left  for  inserting  each  name,  which  cannot  well  be  avoided  in  printing,  although,  in  blank 
S  ruled  for  the  counting-house,  the  lines  generally  extend  connectedly  the  whole  length  of  he 
p^e  In  most  blank  books  ruled  for  Legers,  the  only  harizcmtallines  across  the  imge  (excep  the 
f^ft  line^  for  writing  upon)  are  the  double  Hues  at  the  top  of  the  page.  The  other  single  hues 
I^ve  and  doSufs  Underneath  each  account  are  ruled  by  hand,  and  I  think  it  is  quite  as  well 
to  dispense  with  them  altogether,  and  open  accounts  after  the  following  sample. 


Dr. 


Mayland,  Morris  &  Co.- 


Cr. 


This  form  is  neat,  easily  done,  and,  I  think,  looks  better  than  so  much  ruling.     All  ruHngs  on 

%llZ^^tf'^.^nl^^^  opened  on  a  page  in  actual  business  must  be  determined  by  the 
iudf^ent  of  the  book-keeper.  An  account  that  is  likely  to  fill  up  soon,  should  have  a  whole 
S^Mt  fc^  it :  smaUer  accounts  may  be  placed  two  on  a  page,  and  in  some  cases,  though  seldom, 

'^Tn  ^S'np  these  sets  for  practice,  you  can  place  as  many  accounts  as  you  have  room  for  on 
each  S-    but  be  careful  not  to  c^wd  one  ax^count  on  another,  as  this  looks  excessively 

'""Kccounts  may  be  arranged  in  the  Leger  in  any  order  that  suits  the  taste  of  the  accountant, 

"  Se  MpZlTTl^^  'aT^uU  that  always  accompanies  the  Leger,  will  be  explained  in 

'1^  oi^t^V^^^t^^^^^^  yearly,  and  the  continuance  of  Sets  I  «id 

n  for  one  month  each  is  to  be  understood  as  for  one  year. 


Note  -In  the  closure  of  all  the  Sets  in  this  volume,  I  have  supposed  that  no  bad  debts  exist 
on  the  Leger.  But  if  any  debts  are  known  to  be  bad,  or  are  even  thought  doubtful,  an  ample 
allowance  should  be  made  for  them,  in  estimating  your  profits. 

18 


1852. 
Sept. 


a 
it 
u 
u 


Sept. 


u 

« 
a 


Sept. 


a 
(( 


Sept. 


<( 

u 

u 
u 
u 

4( 
i4 
U 


CASH-BOOK,  SET  I. 

Casli* 


Dr.     Cr. 


1 

(( 

2 
(( 

it 

3 
4 


6 

7 
8 

11 

(( 

(( 
(( 


13 
17 

18 
« 


20 

u 
ti 

24 

ti 

25 

(( 

ti 

a 
a 


Am't  of  Cash  on  hand  at  commencing  business 

Paid  for  Paints,  Oils,  Glass,  Brushes,  &c.,  pr.  Adam's  Bill 
"      "  2  Books  Gold  Leaf 
"      "  Making  Step  Ladders 
«      "  Muslin 
Rec'd  of  S.  Lambert  for  Glazing  27  Lights  10  by  12  @  25  )^ 
Paid  Geo.  L.  Searles  on  %  of  Wages  pr.  D.-B. 
"     Wm.  Boyd,  Jr.,  3  days*  Work  @  $1.50 
«     Hiram  Smith      2     "         «     @      .75 
^Balance  in  Bank,  $345.00,  in  Safe,  $41.31 

Balance  Cash  on  hand 

Rec'd  of  John  Payson  for  painting  Sign  as  pr.  agreement 

"     "  Bailey  T.  Stokes  in  full  of  % 

Paid  Jonathan  Long  &  Co.  on  % 

H  it  it  it  it    it 

"    George  L.  Searles  on  %  of  Wages  pr.  B.-B. 
"    Hiram  L.  Smith  5»  days'  W^rk  @  75  p 
Balance  in  Bank,  $364.93,  in  Safe,  $io.OO 


500 


506 


00 


75 


75 


386 

30 

6 


31 
00 
75 


Balance  Cash  on  hand 

Rec'd  for  37  lbs.  Blue  Paint  @  25  f 

Paid  George  L.  Searles  in  full  pr.  D.-B. 
Rec'd  for  2  Lights  10  by  20  Stained  Glass  @  $4.50 

Paid  Hiram  Smith  6  days'  Work  @  $1.00 

Balance  in  Bank,  $374.43,   in  Safe,  $5.25 

Balance  Cash  on  hand 

Rec'd  of  Timothy  Stone  for  120  lbs.  White  Paint  @  11  /? 
Paid  for  Repairs  of  Shop 
"     "    making  Transparency  Frame 
Rec'd  of  J.  P.  Goodwin,  for  Stained  Glass,  as  pr.  agreement 
"     "  Harry  Biddle  for  painting  Church,  .  *' 
Paid  Foster  B.  Jones  6    days'  Work  @  $1.50 
Walter  Hughes   5»      "        "      @  $L50 
Hiram  Smith      5       "        "      @  $1.00 


423 


374 
9 

9 


O^j 


(( 


393 


93 
25 

00 


18 


it 
ti 


Peter  Lundy       4' 


379 
13 


25 
210 


68 
20 


00 
00 


$  .75 


Balance  in  Bank,  $541.76,    in  Safe,  $64.00 


Sep;. 

i) . 

(( 

ii  t 

(( 

28 

ii 

29 

it 

ti 

ti 

30 

it 

it 

ti 

ti 

1852. 

Oct. 


Balance  Cash  on  hand 

Paid  Peter  Lee,  Carpenter,  for  Sundry  Jobs,  as  pr.  Bill 
"    for  10  calls.  Linseed  Oil  @  $1.62* 
^ec'd  for  Tin  ^ 

Paid  for  Tin  and  Japanning 
"    Hiram  Smith  6  days'  Work  @  $1.00 
**    Rent  of  Shop  one  month 
Balance  in  Bank,  $521.43,   in  Safe,  $18.65 


627 


595 


10 


88 


75 


00 


105  32 

75 

5  00 

37 

3,00 
450 
150 

886  3? 


506  75 


25  00 
1000 

9;oo 

4113 

8  7  4I 9  3 


423  06 


750 


6'00  .** 

3  7  9' 0  8 


39318 


212 

438 


9,00 
8,25 
5|00 
3|38 

595175 


1 1  Balance  from  Sept.  30th  /52 


19 


605 


540 


75 


08 


627188 


22  5) 
16,25 

425 

600 

16  67 


540 


605 


08 


75 


•  Jklfctaen«tefwrMfc. 


li 


^ 


DAY-BOOK,  SET  L 

"Philadelphia^  September  Is/,  185 


L.F. 

♦1 


Bailey  T.  Stokes 

To  Lettering  Tin  Sign 
"   1  Light  Stained  Glass 


Dr. 


1.75 

5.00 


-   2d 


Mayland,  Morris  k  Co. 

To  Bronzing  Candelabra 


Dr. 


8d 


Thomas  Templeton 

To  Bronzing  Valve 
"  6  lbs.  Blue  Paint  @  25  / 
"  18  lbs.  White  "     @  12'  /^ 

. 4th  - 


Dr. 


50 
1.50 
2.25 


Camden  &  Amboy  Rail-Road  Co.t  \  !>'• 

To  Lettering  Sign  60  feet,  @  20  f  pr.  foot  12.00 

"  Gilding  Border  of  Sign  ^-^^ 

"  Putting  up  Sign  .  ^'^^ 


(( 


George  L.  Searles 

By  4  days'  Labor  @  $1.50 

Dr. 
To  Cash  on  % 

6th 


Or. 


Camden  &  Amboy  Rail-Road  Co. 

To  Lettering  Sign  15  feet,  @  20  f 
"  Making  Board  ^nd  putting  up 


Dr. 


3.00 
4.25 


(C 


Henry  Talbott  ^      ^    ^    ^      ry  t>    n""' 

By  Making  Sign  for  Camden  &  Amboy  B.-K.  Co. 

. 7th 


Bailey  T.  Stokes 

By  Cash  in  full  of  % 


Cr. 


8th 


Jonathan  Long  &  Co. 

By  Paints,  Oils  &c.,  as  pr.  Bill 

Dr. 
To  Caah  in  Part 


Cr- 


ti 


«  I  Wm.  G.  Bradbury 
"  •  By  Bill  of  Glass  and  Putty 

((     «    it,  Paints  and  Oils 


Cr. 


17.50 
122.50 


•  Omit  the  flgnrM  la  tk«  kft-huid  marginal  column,  untfl 


flfWM  w*  Um 


75 


200 


425 


16 


50 


600 

s'oo 


25 


800 


75 


52 


64 


25^00 


14000 


DAY-BOOK,  SET  L 

Philadelphia,  September  Qth,  1852. 


L.F. 
1 


2 


1 
2 


1 
2 


1 


Thomas  Templeton 

To  Glazing  1  Light  11  by  18 

11th 


Dr. 


Jonathan  Long  &  Co. 
To  Cash  on  % 
"  Glazing  10  Lights  10  by  18  @  25/ 


Dr. 


10.00 
2.50 


(( 


George  L.  Searles 

By  5J  days'  Labor  @  $1.50 

Dr. 
To  Cash  on  % 

; 13th 


Cr. 


Dr.  . 


Philadelphia  Exchange 

To  Glazing  4  Lights  10  by  16  @  25)^  1.00 

Painting  3  Rooms,  2  Coats,  as  pr.  Agreement        15.00 

15th = 


(( 


Camden  k  Amboy  Rail-Road  Co.  Cr. 

By  my  Order  on  them,  favor  of  J.  Long  k  Co. 


u 


Jonathan  Long  k  Co.  Dr. 

To  my  Order,  their  favor,  on  Camden  &  Amboy  R.-R.  Co. 

18th 


George  L.  Searles 

By  3J  days  Labor  @  $1.50 
Dr. 

To  Cash  in  full  (discharged) 

22d 


Cr. 


Sargeant  k  Willis  Dr. 

To  Stained  Glass  for  Transparency,  Frame,  and  putting 
up  as  agreed 

25th  ^ 


Bailey  T.  Stokes  Dr. 

To  Glazing  New  Sash  at  Manufactory,  as  pr.  Agreement, 

to  wit, 

56  Lights  11  by  15  @  9/  5.04 

139    "      10  by  12  @  7/  9.73 

1920  "        8  by  10  @  3)^  57.60 

"  20      "      Old  Glazing  11  by  17  @  35/  7.00 

Painting  110  Window  Frames     @  45/  49.50 

Reception  Room  5.25 

27th : nz: 


u 


Thomas  Templeton 

By  1  Blk.  Cloth  Dress  Coat 
"   1  Pr.  Blk.  Cass.  Pants 

30th 


Cr. 


15.00 
6.00 


Sargeant  k  Willis 

To  Painting  office  as  pr.  Agreement 

21 


Dr. 


37 


1250 


8:25 

i 

900 


1600 


1514 


15 


14 


525 

i 

7'50 


4000 


13412 


t 

2100 

1 
f 

f 

30  00 


ii 


LEGER,  SET  I. 

Baiky  T.  Siokes. 


Cr. 


1852. 
Sept.!  1 
1862. 


SeptJ  25 


Dr. 


Mayland,  Morris  ^  Co 


Cr. 


1862. 
^pt. 


To  bronzing  cande- 
labra 


Dr. 


Thomas  Templelon. 


Cr. 


1852. 

Sept. 

3 
9 

tt 

1 

30 

To  Sundries 
"  Glazing 
«  BaltoNew% 


1 
2 


16 


25 
37 

38 


21 


00 


1862J 

Sept. 


1862. 

Oct. 


27 


By  Sundries 


By  Bal.  fr.  Old  % 


21 


00 


2100 


16  38 


Dr. 


Camden  Sf  Amboy  Rail  Road  Co. 


Or. 


1862. 
Sept. 


(4 


1862. 

Oct. 


4 
6 


To  Sundries 


To  Bal.  fr.  Old  % 


1 
1 


I 


16 

7 


23 


8 


11852. 

50'  Sept 
25 

75 


61 


15 

30 


By  Order  on  them 
*♦  Bal.  to  New  % 


15 

8 


23 


14 

61 


75 


Dr. 


George  L.  Searles. 


Cr. 


1852. 

»3ept. 

4 

u 

11 

ft( 

18 

=1 

To  Cash 


1 

2 
2 


800 
9  00 
50' 


19 


1852. 

Sept.   4 
"     11 
«     18 


50 


By  Labor 


1 
2 
2 


600 
8  25 

525 


19  50 

: —-a 


I  I 


22 


Dr. 


LEGER,  SET  I. 

Henry  Talbot. 


Cr. 


Date. 

Description. 

D.-B. 

Folio. 

Amount. 

Date. 

Description. 

D.-B. 

Folio. 

Amount- 

» 

1862. 

Sept. 

6 

By  Making  Sign 

1 

3 

00 

Dr. 

Jonathan  Long  Sf  Co. 

Cr. 

1852. 

Sept. 

8 

11 

15 

To  Cash 
"   Sundries 
"  My  Order 

1 

1 

2 
2 

25 
12 
15 

52 

00 
50 
14 

64 

1852. 

Sept. 

8. 

By  Paints,  Oils  &c. 

1 

52 
52 

64 
64 

Dr. 


Win.  G,  Bradbury. 


1862. 

Sept. 


8 


By  Bill  of  Glass  &c. 


Dr. 


Philadelphia  Exchange. 


1852. 

Sept. 


13 


To  Sundries 


16 


00 


Cr. 


140 


00 


Cr. 


Dr. 

Sargeant  Sf  Willis 

• 

Or. 

1862. 

Sept. 
(( 

1862. 

Oct. 

22 
30 

1 

To  Stain'd  Glass  &c. 
"  Painting  Office 

To  Bal.  fr.  Old  % 

2 
2 

40 
30 

70 
70 

- 

! 

00 
00 

00 
00 

1852. 

Sept. 

30 

By  Bal  to  New  % 

\ 

70 

70 

1 

00 

\l 


I 


DEDUCTIONS  FROM  SET  I 

As  this  business  has  now  been  brought  to  a  close,  it  remains  to  be  seen  whether  it 

has  been  profitable  or  unprofitable.  .,, 

Take  off  a  list  of  the  debit  and  credit  balances  standing  on  the  Leger,  and  >ou  win 

find  the  following  results. 


Balances  due  me. 


Bailey  T.  Stokes 
Mayland,  Morris  &  Co. 
Camden  &  Amboy  R.  R.  Co. 
Philadelphia  Exchange 
Sargeant  &  Willis 


134'l2 

2,00 

861 

16  00 

7000 


Balances  I  owe. 


$230.73 


Thomas  Templeton 
Henry  Talbot 
Wm.  G.  Bradbury 


Now  suppose  that  the  Cash  on  hand  constituted  the  only  capital  at  commencing 
business,  except  a  stock  of  tools,  amounting  (say)  to  $75,  as  shown  by  the  Inventory- 
Book,  which  are  worth  as  much  now  as  when  you  commenced,  the  new  ones  purchased 
bein^r  an  ofi-set  against  damage  by  use.  Suppose,  also,  that  the  stock  of  paints,  oils, 
glass°  &c.,  remaining  on  band,  amounts  to  $65.50,  as  shown  by  the  Inventory-Book. 

You  will  then  have  the  following  details. 

Cash  on  hand,  as  pr.  Cash-Book,  at  starting 
Stock  of  tools,  as  pr.  Inventory-Book* 


500.00 
75.00 


Capital  at  starting 

Cash  on  hand,  as  pr.  Cash-Book,  at  closing 
Stock  of  tools,  as  pr.  Inventory-Book    " 
Stock  of  paints,  &c.  "  " 

Personal  accounts  due  me  as  pr.  Leger 

Resources  or  assets 
Deduct  liabilities,  viz.,  personal  accounts  I  owe  as  pr.  Leger, 

Net  capital  or  present  worth 


$575.00 


540.08 
75.00 
65.50 

230.73 

$911.31 

159.38 

$751.93 


It  appears  from  the  above  that  my  net  capital  at  closing  business  is 
While  my  capital  at  commencing  business  was  only 

Showing  that  my  gains  in  business  have  been 


$751.93 
575.00 

$176.93 


From  these  statements,  you  will  perceive  that :—  ,.74. 

The  amount  invested  by  you  at  starting  business  is  termed  capital.^ 

Your  available  means  at  closing  are  termed  resources  or  assets.^ 

Your  indebtedness  at  closing  is  termed  liabilities. 

The  difference  between  your  assets  and  liabiUties  is  termed  net  capital  or  present 

worth. 

Also, 

By  taking  your  capital  at  starting  from  your  present  worth,  you  may  ascertain  your 

gains  in  business. 


In  a  losing  business, 
By  taking  your  present  worth  from  your  capital  at  starting,  you  may  ascertain  your 

losses  in  business. 

The  Inrentory-Book  will  be  explained  hereafter  ^  ^^^  ^^  .^  starting,  tiie  diffcrcnc*  between  Um 


ainnuol  of  jour  effects  and  debts 


24 


QUESTIONS  FOR  REVIEW. 

These  Questions  review  the  whole  of  Single  Entry  thus  far,  and  the  pupil  should  be  required 
to  commit  the  answers  thoroughly  to  memory  and  answer  them,  before  proceeding  farther.  This 
questioning  is  one  of  the  very  beat  exercises  for  fixing  in  the  mind  what  is  intended  to  be  learned 
by  the  previous  practice ;  and  I  think  the  teacher  will  find  that  the  series  of  questions  prepared 
through  the  work  are  sufficiently  extended  to  embrace  nearly  or  quite  the  whole  subject  expound^, 
tod  not,  as  is  too  often  the  case,  so  meagre  as  to  impose  on  him  half  the  work  of  framin" 
questions. 

What  is  l^ook-keeping  ? 

What  two  distinct  methods  are  there  of  keeping  accounts  ? 

In  Single  Entry  Book-keeping,  of  what  does  each  entry  consist  f  ■' 

In  Double  Entry,  what  does  every  entry  contain  ?  » 

What  accounts  are  usually  kept  in  Single  Entry  ?  ^     - 

80  far  as  you  introduce  Cash,  Mdse.,  and  oihcT properti/  accounts,  upon  what  do  you  encroach? 

What  are  the  principal  books  of  entiy  ? 

What  are  the  smaller  books  kept  besides  these,  in  business,  termed  ? 

Which  is  the  most  important  of  these  ?     What  do  you  enter  in  the  Cash-Book  ? 

What  transactions  are  entered  in  the  Day-Book  ?     Describe  the  form  of  entry. 

What  sums  are  transferred  to  the  Leger  ? 

What  is  the  process  of  transferring  from  the  Day-Book  to  the  Leger  called  ? 

What  are  the  advantages  derived  &om  it  ? 

What  is  the  Cash-Book? 

How  many  columns  for  dollars  and  cents  has  Cash-Book,  Set  I  ? 

How  must  money  received  be' entered  ?     How  must  money  paid  out  be  entered  ? 

What  must  the  difference  between  the  two  columns  show? 

If  this  difference  does  not  agree  with  the  actual  amount  of  money  in  possession,  what  is  shown  ? 

Why  cannot  the  credit  column  be  larger  than  the  debit  ? 

How  often  should  the  Cash-Book  be  balanced  ?     How  is  it  done  ? 

How  can  you  test  the  Cash  account  without  balancing  the  Cash-Book  ? 

When  do  you  debit  a  person  in  the  Day-Book  ?     When  do  you  credit  a  person  ? 

Why  must  every  entry  which  you  wish  to  bring  into  any  account  in  the  Leger  be  entered  in  the 

Day-Book  ? 
Why  are  erasures  not  allowable  in  the  Day-Book  ? 
Is  it  allowable,  in  entering  purchases,  to  say  "  Am  t  as  pr.  Bill,"  and  to  omit  the  items?     Why 

is  it  ? 
Is  it  proper  thus  to  do  in  entering  sales  ?     Why  i*ot  ? 
For  what  is  the  Leger  used  ? 
Define  debtor.     Define  creditor. 
Define  debit — as  a  verb : — as  an  adjective. 
Define  credit — as  a  verb : — as  an  adjective. 
What  colored  ink  looks  best  for  rulings  in  the  books  ? 

In  what  order  should  the  entries  in  the  Cash-Book  and  Day-Book  be  entered  ? 
Mention  a  transaction  which  requires  an  entry  in  both  Day-Book  and  Cash-Book. 
What  is  the  next  step,  after  writing  up  the  Cash-Book  and  Day-Book  ?  ' 

Describe  the  process  of  posting.     How  do  you  post-mark  the  entry  ? 
What  may  be  done  with  accounts  paid  in  full,  as  that  of  Stokes  on  the  7th  inst.  ? 
What  do  you  do,  after  completing  the  posting,  to  assure  yourself  that  no  mistakes  have  been 

made? 
What  do  you  do  with  the  Leger,  aft«r  satisfying  yourself  of  its  accuracy  ? 
How  do  you  close  accounts  paid  in  full  ? 

How  do  you  close  accounts  which  have  debit  or  credit  balances,  still  unsettled  ? 
How  does  the  ruling  of  the  prmted  Legers  given  differ  from  that  of  blank-books  ruled  for  the 

counting-house  ? 
How  many  accounts  should  be  opened  on  one  page  of  the  Leger  ? 
In  what  order  should  accounts  be  arranged  in  the  Leger  ? 
What  is  the  Alphabet  or  Index  ?     How  often  are  books  usually  closed  ? 
What  does  the  continuance  of  this  Set  for  one  month  represent  ? 
Mention  the  accounts  on  your  Leger*  which  have  balances  due  you.     What  is  the  gross  amount 

of  them  ?  * 

♦  The  pupil  may  have  his  own  Leger  and  other  books  before  him,  in  answering  this  and  the  foUowbff 
questions.     Also  the  statements  which  he  has  drawn  up  to  show  bis  net  capital,  net  gains,  &c. 


D 


25 


QUESTIONS  FOR  REVIEW  {continuea). 
Mciition  the  accounts  on  your  Leger  whicli  have  balances  you  owe.     What  is  tnc  gi-ns..  amouui 

What  was  the  amount  of  cash  on  hand  at  starting?     Where  found  ? 

What  was  the  value  of  tools  at  starting  ?     Where  found  ? 

What  was  the  total  capital  at  starting  ?     How  ascertained  J 

What  is  the  amount  of  cash  on  hand  at  closing  ?     Where  found  f 

What  is  the  value  of  tools  at  closing  ?     Where  found  ? 

What  is  the  value  of  paints,  oils,  &c.,  at  closing  ?     Where  found  ! 

What  amount  of  personal  accounts  is  due  you  ?     Where  found  r 

What  are  the  total  assets  at  closmg  ?     How  ascertained  "  • 

What  amount  of  personal  accounts  do  you  owe  ?     Where  found  7 

What  is  the  net  capital  or  present  worth  ?     How  ascertained  i 

What  have  been  your  gains  in  business  ?     How  ascertained  ( 

What  is  the  amount  invested  by  you  at  starting  termed  ? 

What  are  the  various  items  which  make  up  this  capital  called  { 

What  would  the  difference  between  your  effects  and  debts  at  startmg  be  called? 

What  are  your  available  means  at  closing  termed  ? 

What  is  your  indebtedness  at  closing  termed  ? 

What  is  the  difference  between  your  assets  and  liabilities  termed  r 

How  do  you  ascertain  your  gams  in  business.     How  your  losses  ^  . 

What  is  to  be  done,  if  bad  debts  exist  at  closing  ?     [See  Note  on  page  18.] 


SET  II,  SINGLE  ENTRY. 


26 


«T 


EXPLANATORY  REMARKS,  SET  II. 

When  Yon  have  carefully  pondered  over  the  contents  of  Set  I,  so  as  to  in^P^ess  npos 
yornlHl  th:;rinciplJsU  are  therein  e-^--^' I^  ^^/^^ C^^^^^ 

referring  to  the  Table  of  Contents,  pages  3  and  4. 

CASH-BOOK,  SET  n. 

T«  +!.;<,  C^<,h  -Book  one  vaae  or  folio  of  the  Cash  account  occupies  two  pages  of  the 
^o^Xltm^^^^  on  the  left  hand  page,  and  Cash  credUs  on  the  n,kt 

^^irform  of  Ca^h-Book  is  more  used  than  that  given  in  Set  I,  and  is  better  except 
This  lorm  o*  ^^^  f^^^^     ^.     balances  are  brought  down  weekly,  as  in  Set  I     but 

by  the  firm— taking  up  a  note  of  the  firm  °"**'*°^'°f.    P^^^      rp^e  wages  of  hands 
bit  they  will  be  readJy;ompr«hend^^^^^^^  a  Me  th  ught      The  wage^^^^ 

employed  you  mUpercme^^^^^^  ^^^  ^^  |„b^  ^^^,^ 

itemoraSm  boi  bSZT  the  Time-Book^  Wed,  to  keep  account  of  th, 

""tuZi  notice  that  money  paid  or  received  on  account  requires  an  entry  in  thi. 
Book,  and  also  in  the  Day-Book,  at  the  same  time. 

DAT-BOOK,  SET  11. 

■  This  book  is  the  same  in  form  -d  geu.-!  W-^^^  tl* tS::Jfraf  l'"  com- 
The  statement  of  the  forming  of  »  P^'^"?^^^^^^         ;,7„J  t^^iness,  but  is  contained 
HheTS^i::  S\?^-rhr Lnr/aSt iSi  shoma  aWs  be  drawn  up  and 
signed  by  each  partner. 

LEGER,   SET  II. 

anew  fobo,  as  ^^e^™  » .^^^ <f '^  thrmeVhTof  transferring  differs  somewhat  from 
SrmarbVst  inS:  rrotSpT^^^denhall.  An  amount  should  always  be 
transferred  before  it  crowds  upon  the  one  below  it. 

THE  ALPHABET  OR  INDEX. 

condensed  on  one  page,  to  save  room.         ^^ 


mSTRtJCTIONS  FOR  WRITING  UP. 

After  having  prepared  paper  for  the  different  books  as  directed  for  Set  I,  page  17, 
commence  to  transcribe  the  Cash-Book  and  Day-Book,  connectedly,  in  order  of  date, 
balancing  the  Cash-Book  weekly,  and  thus  progress  until  you  have  finished  them. 

Next,  post  from  the  Day-Book  to  the  Leger,  as  before  described,  pages  17  and  18, 
being  careful,  however,  to  remember,  whenever  you  open  a  new  account  on  the  Leger, 
to  insert  its  title  also  in  the  Alphabet,  with  the  page  of  the  Leger  on  which  it  may  be 
found.  This  gives  ease  in  future  reference,  and  prevents  the  opening  of  duplicate 
accounts  to  the  same  parties. 

Open  the  two  partners'  accounts  first  upon  the  Leger,  and  after  posting  the  entries 
of  1st  inst.,  you  may  close  B.  L.  Archer's  account,  and  bring  the  balance,  which  is  his 
net  capital,  down  to  new  account,  so  that,  in  making  statements  from  the  Leger,  each 
partner's  investment  may  be  readily  seen. 

When  the  posting  is  completed,  and  you  have  re-examined,  to  be  certain  of  accuracy, 
rule  and  close  up  such  accounts  as  balance  themselves,  or  have  the  debit  and  credit 
sides  equal.  Then  draw  up  statements  on  a  separate  sheet  of  paper,  after  the  manner 
shown  on  page  39,  to  ascertain  the  present  worth  and  the  net  gains  of  the  firm,  and  of  ^ 
each  partner.  Pay  particular  attention  to  this,  and  try  to  make  the  method  of  arriving 
at  these  results  perfectly  familiar,  as  it  is  a  very  important  branch  of  the  accountant's 
duties,  and  frequently  not  well  understood. 

After  completing  these  statements,  enter  each  partner's  share  of  net  gain  to  the  credit 
of  his  account  in  the  Leger,  Make  this  an  original  entry  in  the  Leger,  which  is  the 
simplest  and  best  way;  and  not  enter  it  in  the  Day-Book,  and  post  to  the  Leger, 
although  some  good  accountants  pursue  this  latter  plan.  The  difference  between  the 
twa  sides  of  each  partner's  account  will  now  show  his  net  capital,  and  you  may  close 
his  account  and  bring  down  this  net  capital  to  new  account,  as  it  is  called, — that  is^ 
write  it  down  in  the  same  account  underneath  the  closure.  You  may  likewise  close  all 
the  other  accounts  remaining  open  on  the  Leger. 


^ 


29 


\ 


CASH-BOOK,  SET  IL 


2>r. 


Cash. 


sst: 


'1852.  I 

Nov. 


Nov. 
(( 

(( 

it 


1 

u 


8 

a 

9 
11 


To  B.  L.  Archer,  invested  by  bim 
"   C.T.Marion,       "        "      " 
"  James  Margrave,  on  % 

To  Balance  on  band  from  6tb  inst. 
"   1  Bureau,  Mahogany  Veneered  .     ,     ,    r    «* 

"  Bills  Receivable;B.  Pinkley's  Note,  Archer  s  favor 
«  James  Mortley,  Arm  Chair  for  Office 


60 

648 

60 


758 


00 
08 
00 

08 


674  98 
2200 
12500 
500 


Nov. 
<( 

it 


Nov. 


15 
(( 

17 
18 
19 
20 


To  Balance  on  hand  from  13tb  inst. 
1  Pint  of  Varnish 
Staining  Cupboard 

1  Reclining  Chair  for  Invalids 

2  Ottomans  ^^      ■•r    i 
1  French  Bedstead,  Birds^-Eye  Maple 


82698 


648 


«>2    To  Balance  on  hand  from  20th  inst. 

""     "   Steamboat  Ohio  Belle,  part  Bill  of  date 


60 
60 
75 
,00 
700 
4'50 


25 


Nov. 
« 

K 
i< 
(( 
<i 

(( 
<( 
li 


^-^ 


686|35 


698 
150 


23 

00 


29 


(( 

30 

« 


1862. 

Dec. 


To  Balance  on  hand  from  27th  mst.  /;^  fti  o  p;o 

«   2  Mahogany  Rocking  Chairs  Plush  covered,  @  81..50 
«   2  Birds'Ve  Maple  French  Bedsteads,  @     ^•^\^qq 

«   1  Doz.  Cane-Seat  Walnut  Chairs  ^^-^^ 

"  1  Child's  High  Chair  ^25 

«   1       "      Rocking "  .    '  

«   James  Margrave,  in  fuU 
"   Repairing  Tables 
u  (^        Chairs 


748123 


i|74!83 

25(00 

9  00 


26,50 
62  75 


2 
1 


602 


To  Balance  from  Nov.  30th  /52 


47198 


38 
62 

08 


CASH-BOOK,  SET  II. 

Cash. 


1862. 

Nov. 

2 

6 

M 

(t 

Nov. 

8 

u 

<( 

t( 

C( 

it 

13 

M 

i« 

?^V. 

16 
20 

M 

4< 

Nov. 


« 

« 


Nov. 


u 
u 


22 

23 

24 

(( 

27 


29 
a 

« 
30 

u 
(i 


By  Richard  Baker,  Bill  of  Lumber 

"    Wages  paid  hands,  pr.  Time-Book 

•*    Balance  in  Bank,  $660,  in  Safe^  $24.98 


By  S.  Brinkley,  Carpenter,  Repairs  of  Shop 
Jonas  Smith,  Painting  Shop 
John  Johnson  &  Son,  in  full  of  % 
Glazing  1  Light  of  Glass 
Wages  paid  hands,  pr.  Time-Book 
Balance  in  Banky  $620,  in  Safe,  $28.60 


« 
« 


By  John  Johnson  &  Son,  part  Bill  of  Paints,  &c. 

"    Wages  paid  hands,  pr.  Time-Book 

*«    Balance  in  Bank,  $525.50,  in  Safe,  $72.73 


By  Bills  Payable,  Archer's  Note,  P.  Wall's  favor 
Less  Discount  from  date,  to  Jan.  6th  /53 

"  B.  L.  Archer,  on  %^ 

"  Bill  of  Varnish 

«  Gas  Bill 

"  Dray  age  of  Furniture 

"  "Wages  paid  hands,  as  pr.  Time-Book 

**  Balance  in  Bank,  $470,  in  Safe,  $4.83 


200.00 
1.50 


By  Bill  of  Veneering 

Charles  T.  Marion,  on  % 

Repairs  of  Lock 

Rent  of  Shop,  one  month 

Wages  paid  hands,  as  pr.  Time-Book 

Balance  in  Bank,  $460.50,  in  Safe,  $11.48 


u 
u 
u 
it 


I  I 


1       I 


ao 


31 


Cr. 


75 

7 

674 


758 


61 
22 
67 

37 

648 


826 


60 
50 

9? 


08 


50 
00 
00 
38 
50 

60 


98 


50  00 
3812 

698  23 


686  35 


198  50 

lo'oo 

13'50 
14,25 

50 
36'65 

474183 


74823 


25|60 
25  00 
25 
40  00 
39  25 


471 


98 


602  08 


i 


DAY-BOOK,  SET  IT. 

Pittsburgh  November  Is/,  1852. 


IL.F. 


Barney  L.  Archer,  Cabinet-Maker,  associates  with  himself  Charles 
T.  Marion  ; — Archer  transferring  to  the  firm  such  portion 
of  his  resources  and  liabilities  as  is  mutually  agreed  upon, 
and  Marion  investing  their  equivalent  in  Cash.  The 
parties  are  to  share  alike  in  gains  and  losses. 


Barney  L.  Archer,  Cr. 

By  Cash  invested 
"  Sundry  Notes  he  holds  against  others,  pr.  B.-B. 
"  Bal.  of  James  Margrave's  % 
"     *'    of  Peyton  Gardner's    " 
"  Materials  &  Unfinished  Work,  as  pr.  Inventory 
"  Stock  of  Furniture,  "    **         " 

"  Tools  "   "        " 


(( 


50.00 
350.00 
55.75 
37.40 
350.50 
210.48 
151.20 


Dr. 


1 


To  Sundry  N|^s  he  owes,  pr.  B.-B. 
"  Bal.  due  J6lin  Johnson  &  Son,  on  % 
"     "      "   Peters,  Fithian  &  Co.    ' 


t(     (( 


421.00 
67.00 
75.20 


1,211 


28 


503  20 


Charles  T.  Marion 

By  Cash  invested 


Or. 


—   1st 


James  Margrave 

To  Bal.  of  his  %  due  B.  L.  Archer 


Dr. 


i( 


Peyton  Gardner 

To  Bal.  of  his  %  due  B.  L.  Archer 


Dr. 


<( 


1 

2 


John  Johnson  &  Son  '4i  C^* 

By  Bal.  of  B.  L.  Archer's  %  assumed  by  us 

u      _   


Peters,  Fithian  &  Co.  Cr. 

By  Bal.  of  B.  L.  Archer's  %  assumed  by  us 


648 


55 


37 


67 


76 


08 


75 


40 


00 


20 


—    3d 


James  Margrave 

To  1  Hair  Cloth,  Mahogany  Sofa 

Cr. 

By  Cash  on  % 
4th  


Dr. 


Mrs  Matilda  Warterby                                   ^  I^r- 

To  9  Mahogany  Chairs,  Cane-Seats,  @  $1.25    11.25 
«  6        "               "      Hair-Cloth  Seats,  "    3.00    18.00 

«  2  Cherry  Dining  Tables  "    6.00    12.00 

"  1  Maple  French  Bedstead  4.25 

"  1      "      Low-Post  Bedstead  2.75 

82 


20 
60 


48 


00 
00 


25 


DAY-BOOK,  SET  II. 

Pittsburgh  November  5thy  1852. 


L.P. 

2 


2 
1 


8 


ii 


Jeremiah  McCabe,  pr,  Wife, 

To  1  Doz.  Windsor  Chairs 
«  1     «         "  "        @  $15.00 

«  J     «         «  «  "    10.00 

«  1  Spring-Seat  Black  Walnut  Sofa 


Dr. 


12.00 
7.50 
5.00 

21.00 


John  Johnson  &;  Son 
To  Cash  in  full 


8th 


9th 


Dr. 


Peters,  Fithian  &  Co. 

By  Bill  of  Lumber 


Cr. 


Dr. 


To  our  Note  @  30  days,  in  full  of  their  % 


iC 


James  Margrave,  pr.  daughter  Dr. 

To  1  Black  Walnut  Footstool 


(4 


Miss  Betsy  Crim 

To  3  Doz.  Windsor  Chairs,  @  $11.00 
"  1  Rocking  Chair,  Second-Hand 


Lewis  Laflin,  Jr.  ^       ^  a^  aa  ^'* 

^      To  3  Patent  Pivot  Chairs  for  Office,  @  ?5.00 


11th 


James  Margrave,  pr.  wife  Dr. 

To  1  Black  Walnut  Extension  Dining-Table 


13th 


Philip  Mendenhall  •  Dr.  • 

To  2  Children's  High  Dining-Chairs,  Mahogany,  @  2.00 


(( 


Dr. 


33.00 
9.00 


15th 


James  Margrave 

To  %  of  J.  McCabe,  assumed  by  him 


Dr. 


a 


Jeremiah  McCabe 

By  transfer  of  %  to  J.  Margrave 

16th 


Cr. 


John  Johnson  &  Son 

By  Bill  of  Paints,  Varnish,  Brushes,  &c. 

Dr. 
To  Cash  in  part 

—  18th 


Or. 


Philip  Mendenhall 

To  1  Black  Walnut  Book-Case 
E  83 


Dr. 


45 


50 


67 


00 


135 
210 


00 
20 


50 


15 


00 


40 


00 


00 


42 


00 


45 


45 


50 


50 


175 
50 


2t) 
00 


15.00 


I 


DAY-BOOK,  SET  II. 

Pitisburg^  November  19//i,  1852. 


L.  F. 

3     James  Margrave,  pr.  son 

To  1  Hat-Stand,  Mahogany  Veneered 


Dr. 


Philip  Mendenhall 

To  Varnishing  1  Table 


20th 


Dr. 


3 


22d 


Steamboat  Ohio  Belle 

To    3  Mahogany  Sofas, 
"     2  "        Tete-a-Tetes, 

"     1  «        Rocking  Chair, 

«    4  "        Arm  Chairs, 

"     2  Doz.  "         Chairs, 
"  14  Cherry  Wash-Stands, 
"  14  Looking-Glasses, 

Cr. 

By  Cash  in  part  payment 

23d  — 


Dr. 

@  $15.00  45.00 

"    16.00  32.00 

12.00 

«      8.00  32.00 

"    30.00  60.00 

"      2.00  28.00 

"      2.00  28.00 


B.  L.  Archer 

To  Cash  on  % 


Dr. 


(( 


Oscar  P.  Lewis  &  Co. 

By  Bill  of  Lumber 


Cr. 


■^ 


26th 


James  Matgrave,  *  per  wife 

Tq  1  Mahogany  Bureau,  with  Glass 


Dr. 


29th 


1  I  Charles  T.  Marion 

To  Cash  on  % 


Dr. 


(( 


Miss  Betsy  Crim 

To  1  Mahogany  Bureau 


Dr. 


-  30th 


3 


Philip  Mendenhall 

To  1  Black  Walnut  Centre  Table 


Dr. 


« 


Miss  Betsy  Crim  .  v  •.     ^/in^ 

By  1  Mahogany  Bureau,  returned  because  it  was  too 

large  for  the  room 


<i 


James  Margrave 

By  his  Note  @  60  days 
"  Cash  to  Bal.  % 


Cr. 


75.00 
62.75 


34 


10 


00 


50 


237 
150 


00 
00 


10 


96 


00 


25 


40 


25 


00 


19 


00 


00 


15 


19 


00 


00 


137176 


ALPHABET  OR  INDEX, 

LEGER,  SET  XL 


A. 


Archer,  Barney  L.  - 


B. 


C. 


Crim,  Miss  Betsy    - 


D. 


£. 


P, 


0. 


Gardner,  Peyton 


H. 


I,  J. 

Johnson,  John,  k  Son 


K. 


Laflin,  Lewis,  Jr.    - 
Lewis,  Oscar  P.,  &  Co. 


M, 


Marion,  Charles  T. 
Margrave,  James 
McCabe,  Jeremiah  - 
Mendenhall,  Philip 


2 
3 


1 
3-1 

2 
3-2 


N. 


0.       "^^ 


P. 


Pet^,  Fithian  &  Co. 


Q. 


B. 


S. 


1      Steamboat  Ohio  Bella    - 


T- 


U. 


V. 


W. 

Waterby,  Mrs.  Matilda  - 


X. 


Y,  Z. 


2 


3 


2 


i 


m  itJH--  ^. 


I 


•  1 


LEGER,  SET  II. 

Barney  L.  Archer. 


Cr. 


Bj  Sundries 


1,211 


28 


I3j  Net    Capital 
brought  down 
I  Net  Gains* 


ByNetCap.fr.old% 


1,211, 


648 


28 


08 


140130 


788|38 


778 


Dr. 


Charles  T.  Marion. 


1852. 

Nov. 


29 

30 


To  Cash  on  % 
*♦  Net  Cap.  to  New  % 


By  Cash  invested 
"  J  Net  Gains* 


ByNetCap.fr.old% 


Dr. 


James  Margrave. 


1852. 

Nov. 


4( 


1 

3 
9 
11 
15 


To  B.  L.  Archer 

"  Sofa 
"  Footstool 
"  Dining  Table 
"  J.  McCabe 

Am*t  to  folio 


t 


1 
1 
2 

2 
2 

3 


55 
20 
1 
40 
45 


75 
00 
50 
00 
50t 


162 


75 


1852. 

Nov. 


By  Cash 


AnCt  to  folio 


Dr. 


Peyton  Gardner. 


1852. 

Nov. 


To  B.  L.  Arch» 


37 


40 


Dr. 


John  Johnson  &  Son. 


1852. 

Nov. 

1852. 

Nov. 


8 


16 

3  0 


To  Cash 

To  Cash 
"  BaL  to  New  % 


67 


50 

125 


00 


00 

26 


1852. 

Nov. 

1852. 

Nov. 

1862. 

Dec. 


16 


By  B.  L.  Archer 
By  Bill  of  date 


By  Bal.  fr.  Old  % 


*  &tt  Statements,  p»ge  39. 

36 


38 


Cr. 


Cr. 


67 


00 


.175  26' 


125 


26 


Br. 


LEGER,  SET  11. 

Peters^  Fithian  Sf  Co. 


Cr. 


1852. 

Nov. 


To  Bills  Payable 


210 


20 


21020 


1862. 

Nov. 


1 

9 


By  B.  L.  Archer 
"   Bill  of  date 


1 

2 


7520 
13500 

21020 


Dr. 


Mrs.  Matilda  Waterhy. 


Cr. 


1862. 

Nov. 


To  Sundries 


48 


25 


Dr. 


Jeremiah  McCabe. 


Cr. 


1862. 

Nov. 


To  Sundries 


45:50 


1852. 

Nov. 


15 


By  J.  Margrave 


45 


50 


Dr. 


Lewis  Laflin^  Jr. 


Cr 


1862. 

Nov. 


To  Pivot  Chairs 


15 


00 


t  - 


Dr. 


Philip  Mendenhall. 


Cr. 


1852. 

Nov. 


13 

18 
201 


To  Children's  chairs 
"  Book  Case 
"  Varnishing 


2 
2 
3 


4 
15 


00 
00 
50 


1852. 

Nov. 


20 


Bi/ Bal.  to  folio 


8 


19 


50 


7 
I 


Dr. 


LEGER,  SET  11. 

Miss  Betsy  Crim. 


1852. 

Nov. 


1862. 

Dec. 


13   To  Sundries 
29    "  Bureau 


1852. 
42;00IINov. 
19l00i    " 


To  Bal.  fr.  Old  % 


Dr. 


30 

31 


By  Bureau 

*'  Bal  to  New  % 


James  Margrave. 


Cr. 


1852. 

Nov. 

u 


(C 


15 
19 

26 


To  Am*t  fr.  folio 
"  Hat  Stand 
"  Bureau 


1 
3 
3 


162 
10 
25 


197 


1862. 

T5;iNov. 

00 

00 


75 


(( 


15 
30 


By  Am't  fr.  folio 
"   Sundries 


1 

3 


60 
137 


1^ 


197  76 


Steamboat  Ohio  Belle. 


Or. 


Dr. 


Oscar  P.  Lewis  fy  Co. 


1852. 

Nov. 


23 


By  Bill  of  date 


I   I 


9640 


Dr. 


Philip  Mendenhall. 


Cr. 


1852. 

Nov. 


1852. 

Dec. 


20 

30 


I 


To  Bal.  from  folio 
"  Centre  Table 


2 
3 


ToBal.fr  Old  % 


19 
15 


50 

oo' 


1852. 
Nov. 


By  Bal  to  New  % 


DEDUCTIONS  FROM  SET  n. 

UNSETTLED   BALANCES   ON  THE  LEGER. 


I)eU9  due  the  Firm. 


Peyton  Gardner 
Mrs.  Matilda  Waterby 
Lewis  Laflin,  Jr. 
Miss  Betsy  Crim 
Steamboat  Ohio  Belle 
Philip  Mendenhall 


DehtB  the  Firm  owe. 


-II    ^264 


15 


John  Johnson  &  Son 
Oscar  P.  Lewis  &  Co. 


12526 
9640 


$221 


66 


1 


You  now  need  some  facts  contained  in  auxiliary  books,  which  are  omitted. 

Suppose,  then, 
The  Stock  of  furniture  on  hand  amounts,  pr.  Inventory-Book,  to 
«       «       «  materials  and  unfinished  work,  ^^       ^^ 

M       «       "  tools,  depreciated  by  use,  ,   **  ^^^^  -r^^v 

The  amount  of  Bills  Receivable  in  possession  of  the  firm,  pr.  Bili-JJoofc 
«        "  Bills  Payable  outstanding. 

You  have  now  the  materials  for  the  following  statements. 


a 


$776.75 
239.79 
141.95 
300.00 
431.20 


Assets. 


Cash  on  hand,  pr.  C.-B. 
Debts  due  the  firm,  pr.  Leger 
Bills  Receivable,  pr.  B.-B. 
Furniture,  pr.  Invt.-Book 
Materials,  &c.     "       " 
Tools,  "       " 

Total  assets 
Deduct  liabilities 

Firm's  net  capital  or  pres't  worth 


471 
264 
300 
776 
239 
141 


$2,194 
652 


98 
15 
00 
75 
79 
95 


Liabilities. 


62 

86 


$1,541 


Debts  the  firm  owe,  pr.  Leger 
Bills  Payable,  pr.  B.-B. 

Total  liabilities 


221 
431 


T6l 


$652 


66 
20 

86 


Assets,  including  Partners*  debits. 


Total  assets,  pr.  above  statem*t 
Cash  paid  B.  L.  Archer 
"     C.  T.  Marion 


(( 


Deduct 

Firm's  net  gains 
Each  partner's  J 


$140.30 


2,194 
10 
25 


Liabilities,  including  Partners"  investments. 


62 
00 
00 


2,229 
1,949 


62 
02 


$280 


60 


Total  liabilities  pr.  above  state- 
ment 

B.  L.  Archer's  investment 

C.  T.  Marion's         " 


II 


65286 
648'08 
648  08 


$1,949  02 


778.38 


Again, 
Net  gains  of  B.  L.  Archer  $140.30 
Add  credit  Bal.  of  his  % 

pr.  Leger  638.08 

B.  L.  Archer  s  net  capital 
Net  gain  of  C.  T.  Marion  $140.30 
Add  credit  Bal.  of  his  % 

pr.  Leger  623.08 

_.^    C.  T.  Marion* s  net  capital      763.38 
Firm's  net  capital,  as  above  $1,541.76 


Therefore, 

The  difference  between  the  total  assets  and  total 
liabilities  of  a  firm  shows  the  nH  capital  or  net  insol- 
vena/  of  the  firm. 

The  difference  between  the  assets,  including  part- 
ners' debits,  and  liabilities,  including  partners'  invest- 
ments, shows  the  net  gains  or  net  losses  of  firm. 

Each  partner's  share  of  net  gains,  added  to  his 
account,  shows  his  net  capital.* 

The  net  capital  of  the  several  partners,  being 
added  together,  shows  the  firm's  net  capital. 


♦  In  a  losing  businePB,  the  losses  of  each  p»nr.«8',  deducted  from 
the  credit  balance  of  his  account,  shows  his  net  capital ;  or  if  the 
iwt  losses  are  KT^-ater  than  the  credit  balance  of  hilt  account,  the 
difference  ghow«  ha  net  iusolveocy. 

39 


^^^? 


QUESTIONS  FOR  REVIEW,  SET  n. 

How  are  the  Cash-Book  and  Day-Book  of  this  Set  to  be  written  up  ? 

From  what  book  do  you  post  to  the  Leger  ? 

How  can  you  find  examples  of  the  Inventcrry-Bookj  BiU-Boohj  Time-Booh^  and  other  auxiliaries 

not  given  in  this  Set  ? 
What  is  the  form  of  the  Cash-Book,  in  Set  11  ?    How  does  it  differ  from  that  in  Set  I? 
How  often  is  the  wages  of  hands  employed  paid  ?     How  is  the  time  they  work  kept  ? 
How  is  money  paid  or  received  on  account  to  be  entered  ? 

In  what  is  the  statement  of  the  forming  of  a  partnership,  and  the  terms  thereof  usually  contained  I 
When  the  space  left  for  an  account  in  the  Leger  is  full,  what  is  to  be  done  with  it  ? 
What  two  accounts  are  transferred  in  this  Leger  ? 

Is  the  method  of  transferring  them  the  same  in  both  cases  ?     How  different  ? 
What  is  the  Alphabet  or  Index  ?     Describe  its  usual  form  ? 
Which  part  of  the  name  of  a  person  is  generally  written  first  in  the  Index  ? 
When  should  the  title  of  an  account  be  placed  in  the  Index?     Why  is  it  important  to  hisert  it  in 

the  Index  as  soon  as  the  account  is  opened  in  the  Leger  ? 
What  two  accounts  are  first  opened  in  the  Leger  ? 

What  is  done  to  B.  L.  Archer's  account,  after  posting  the  entries  of  1st  inst.? 
After  completing  the  posting,  what  do  you  do?     What,  after  re-examining  the  Leger,  and  closing 

such  accounts  as  balance  themselves  ? 
What  is  the  object  in  drawing  up  statements,  as  shown  on  page  39  ?  - , 

Where  do  you  enter  each  partner's  share  of  the  net  gain  ?     How  ? 
What  will  the  difference  between  the  two  sides  of  each  partner's  account  now  show  ? 
What  do  you  do  with  this  net  capital  ? 

How  do  you  treat  other  accounts  remaining  open  in  the  Leger  ? 
Mention  the  several  accounts  in  the  Leger  having  balances  due  the  firm  ? 
What  is  the  gros3><^nount  of  them  ? 

Mention  those  havingbalances  the  firm  owe.     What  is  the  gross  amount  ? 
What  is  the  value  of  the  stock  of  furniture  remaining  on  hajttd  ? 
What  is  the  value  of  materials  and  unfinished  work  f 
What  is  the  value  of  tools  ? 

What  amount  of  Bills  Receivable  have  the  firm  in  possession  ? 
What  amount  of  Bills  Payable  are  outstanding  against  the  firm  ?  ,    , 

What  are  the  total  assets  of  the  firm ?     What  the  total  liabilities? 
What  is  the  firm's  present  worth  ? 
What  are  the  total  assets,  including  partners*  debits  ?  . 
What  are  the  total  liabilities,  inculding  partners'  investments  ? 
What  are  the  net  gains  of  the  firm  ? 

What  is  each  partner's  half  of  the  net  gains  ?  ,        ,  ,.  ,  .,•  •       i?  i.    u      • 

What  is  shown  by  the  difference  between  the  total  assets  and  total  liabilities  of  the  firm  r 
What  is  shown  by  the  difference  between  the  assets,  including  partners'  debits,  and  the  liabilities, 

including  partners'  investments  ? 
What  is  shown  by  adding  each  partner's  share  of  net  gains  to  his  account  ? 
In  a  losing  business,  what  is  shown  by  deducting  the  losses  of  each  partner  from  the  credit 

balance  of  his  account  ?  i       i         i      j'lr 

If  the  net  losses  are  greater  than  the  credit  balance  of  his  account,  what  does  the  difference 

show  ? 
What  is  shown  by  adding  together  the  net  capital  of  the  several  partners? 


SET  III,  SINGLE  ENTRY. 


9 


41 


40 


■fti  .IJtiA. 


EXPLANATORY  REMARKS, 


AND 


INSTRUCTIONS  FOR  WRITING  UP  SET  IH, 

There  are  blank  books  for  this  Set  intended  to  accompany  the  work,  and  in  these  I 
-wish  you  to  write  up  the  materials  found  on  pages  44  to  49  inclusive.  These  materials 
will  afford  you  a  complete  and  connected  history  of  the  business  of  farming  for  a  year, 
(except  that  some  of  the  petty  details,  which  are  of  constant  occurrence,  are  omitted,  to 
avoid  an  unnecessary  and  tiresome  repetition.)  In  most  cases  the  gross  amounts  of 
debit  or  credit  are  omitted,  but  the  number  of  acres,  bushels,  &c.,  bought  or  sold,  and 
at  what  price,  are  in  all  cases  mentioned ;  and  you  can  calculate  the  amounts  for 
yourself.  This  will  give  just  the  kind  of  practice  which  is  needful  to  prepare  for  the 
actual  keeping  of  books—for  no  one  is  qualified  to  keep  a  set  of  books,  however  well 
he  may  understand  the  theory  of  accounts,  unless  he  is  quick  and  accurate  m  making 
extensions,  additions,  and  such  calculations  as  usually  occur ,in  business. 

You  will  find  at  first,  underneath  each  transaction  recorded,  an  elucidation  of  the 
manner  in  which  you  are  to  enter  it  in  your  Cash-Book,  or  Day-Book,  or  both.  But 
when  there  are  several  records  of  similar  transactions,  elucidations  are  given  to  one  or 
more  of  the  first,  and  omitted  in  the  subsequent  ones,  in  order  that  you  may  exercise 
your  power  of  thought,  and  be  benefited  thereby,  instead  of  being  a  mere  copyist,  lean- 
ing entirely  and  constantly  upon  a  support,  and  ready  to  fall  as  Bocn  as  that  support 
shall  be  removed. 

The  Cash'Booh,  Bay-Booh,  and  Leger  used  in  this  Set  are  the  same  in  form  and 
mode  of  entry  as  those  in  Set  II.  The  blanks  prepared  have  printed  explanations  on 
their  covers,  which  will  enable  you  to  use  them  correctly,  and  the  practice  which  you 
have  now  had  on  loose  sheets  of  paper  should  give  you  accuracy  and  neatness  m  ail 
your  work.  It  is  no  small  accomplishment  to  be  able  to  keep  books  free  from  mistakes, 
Erasures,  and  blots ;  and  yet  all  books  of  account  (especially  books  of  original  entry) 
should  be  thus  kept,  for  they  are  frequently  the  only  means  of  proving  important  deal- 
ings between  man  and  man,  and  if  doubts  be  cast  upon  their  accuracy  and  truthfulness, 
by  a  careless  (not  to  say  dishonest)  manner  of  keeping  them,  innocent  parties  wUl 
thereby  oftentimes  be  sufferers. 

First  examine  critically  the  history  of  every  separate  transaction,  before  looking  at 
the  elucidation,  and  determine,  if  possible,  how  you  would  make  the  entry,  and  then 
compare  your  own  ideas  with  the  elucidation  given,  and  ascertain  whether  you  are  right 
—and  make  the  entry  or  entries  accordingly.  Proceed  thus,  entering  m  both  JJay-Book 
and  Cash-Book,  in  order  of  date,  until  you  have  completed  the  whole  year.  Then  post 
the  Day-Book— re-examine,  to  see  if  rightly  t)osted— close  it— and  Iraw  off  statements 
as  before  directed.  The  statements  and  deductions  on  page  53  wJl  enable  you  to  see 
whether  you  have  performed  all  your  work  with  accuracy. 

Teachers  will  find  the  Cash-Book,  Day-Book,  Alphabet  and  Leger,  complete,  in  the 
Key  to  this  work,  which,  with  the  directions  here  given,  will  enable  even  those  unac- 
quainted with  the  science  of  accounts  to  guide  their  pupils  aright  in  the  prosecution  ot 
this  study.  But  all  the  aid  an  intelligent  pupil  needs,  except  such  suggestions  as  his 
teacher  will  of  course  give  him,  is  intended  to  be  furnished  m  tne  treatise  itself,  and  it 
is  far  better  that  he  should  not  consult  the  Key. 


42 


<£  .^ 


FARM  ACCOUNT,  SET  III. 

This  account,  given  on  pages  50  and  51,  exhibits  in  detail,  on  the  debit  side,  the  whole 
of  your  expenditures  for  the  farm,  including  the  expenses  of  your  family ;  and  on  the 
credit  side,  the  whole  of  the  proceeds  accruing  and  arising  therefrom ;  and  is  an  exem- 
plification of  a  regular  Double  Entry  property  account,  except  that  in  Double  Entry, 
instead  of  being  embraced  under  one  head,  it  would  more  commonly  be  divided  into 
several  separate  accounts,  as  "Dairy  Account,"  "Wheat  Field,"  "Family  Expenses," 
"Interest,"  and  the  like,  and  thus  enable  you  to  know  precisely,  truly,  and  minutely, 
the  whole  state  of  your  affairs,  and  what  branches  of  your  business  are  more  or  less 
profitable.  This  account,  as  here  shown,  however,  enables  you  to  ascertain  how  much 
you  have  gained  by  your  whole  farming  operations,  and  operates  as  a  proof  upon  the 
correctness  of  your  books,  by  producing  the  same  result. 


INVENTORY-BOOK,  OR  ACCOUNT-STOCK-BOOK,  SET  III. 

On  page  52,  I  have  given  an  Inventory-Book.  This  is  a  small  book,  used  for  taking 
an  account  of  the  value  of  property  owned  by  you,  at  any  given  date,  in  order  that  you 
may  use  it  in  estimating  your  net  capital,  net  gains,  &c.  Merchants  take  an  inventory 
of  their  goods,  or,  as  they  usually  call  it,  "  take  an  account  of  stock,'*  once  a  year  at 
least,  and  every  business  man  should  inventory  his  property  as  often  as  this.  It  must 
of  necessity  be  done  whenever  you  would  ascertain  the  true  state  of  your  business 
affairs.  In  taking  an  inventory,  there  must  be  a  careful  estimate  of  the  value  of  the 
property,  of  whatever  kind,  and  it  is  perhaps  as  safe  a  rule  as  any  to  affix  such  a  price 
as  the  article  would  bring  in  market. 

To  ascertain  on  what  pages  the  Check-Book  and  other  auxiliaries  needed  in  actual 
business  are  exhibited,  refer  to  the  Table  of  Contents,  pages  3  and  4. 


EEMARKS  RELATIVE   TO  A  MODE  OF  KEEPING  A  SEPARATE  ACCOUNT  OF  THE 

FARMING  OF  A  PARTICULAR  FIELD. 


A 


As  the  business  of  farming  has  become  intimately  allied  with  science,  the  farmer  of  the  pre- 
sent day  frequently  desires  to  try  an  experiment  with  some  new  mode  of  culture  on  a  particular 
field ;  and,  as  a  means  of  testing  its  value,  wishes  to  ascertain  the  cost  of  such  culture,  as  well 
as  the  value  of  the  crop  produced.  Where  books  are  kept  by  Double  Entry,  this  may  be  ac- 
complished with  comparatively  little  difficulty ;  but  in  Single  Entry  such  experimental  accounts 
can,  with  propriety,  only  be  kept  as  memoranda.  Thus : — all  the  expenditures  on  the  experi- 
mental field,  as  well  as  on  the  remainder  of  the  farm,  should  be  entered  in  your  books,  (and  on 
the  debit  side  of  "  Farm"  account,  when  kept,)  and  the  receipts  for  the  crop  taken  from  said 
field,  as  well  as  from  the  other  fields  of  the  farm,  should  also  be  entered  in  your  books,  (and  on 
the  credit  side  of  "  Farm"  account,  when  kept,)  precisely  as  though  no  separate  account  were 
kept  of  the  experimental  field.  To  ascertain  the  result  of  the  experiment  on  a  particular  field, 
an  account  entitled  "Experiment  on  Field  A"  (or  designated  as  the  case  may  require) 
should  be  opened  in  a  separate  memorandum  book,  or  on  a  loose  sheet  of  paper :  in  which  ac- 
count all  the  items  of  expenditure  appropriately  belonging  to  said  experiment  should  be  entered 
on  the  debit  side,  and  the  receipts  from  the  crop  on  the  credit  side.  Such  items  of  expenditure 
for  labor,  manure,  &c.,  as  are  made  wholly  for  the  experimental  field,  are  of  course  to  be  placed 
xcholly  to  the  debit  of  this  account,  and  of  such  expenditures  as  are  made  for  the  benefit  of  the 
tohole  farm,  (as  for  farming  utensils,  &c.,)  a  fair  proportion  should  be  placed  to  the  debit  of 
this  account. 

It  will  readily  be  perceived  that  the  correct  apportionment  of  those  expenditures  which  are 
made  for  the  entire  farm,  is  essential  to  the  ascertainment  of  the  correct  result  of  the  experi- 
ment ;  and  that  the  more  nearly  this  apportionment  apprcfeches  correctness,  will  the  result  of  the 
exi)eriment  as  exhibited  by  the  account,  come  more  nearly  to  the  truth. 

43 


4 


HISTORY  AND  ELUCIDATIONS,  SET  III 

Lancaster,  PenrUa,  January  \st,  1852. 

My  Capital  at  the  present  time  consists  of  Cash  on  hand,  $6,275,  and  Notes  which  I 
hold  against  other  persons  to  the  Am't  of  $2,629.50. 

You  must  enter  in  your  Cash-Book,  on  the  debit  side,  the  money  here  mentioned  as  on  hand,  thus,  "To 
Am't  on  hand  at  commencine  business,"  giving  the  date  and  amount 

The  notes  would,  in  actuS  business,  be  recorded  in  a  Bill-Book;  but  you  may  omit  any  record  of  thetb. 
as  no  BJu-Bo^k  is  given  in  connection  with  this  Set.  Or,  if  you  prefer  so  to  do,  you  can  f^l^'^J  »  «^««\^«; 
Taper  a  Bill-Book  like  that  in  Set  VI.  Double  Entry,  and  make  therein  the  proper  entries  of  these  notes, 
Sd  others  which  occur  in  this  Set.  You  can  find  the  name  of  drawer  and  the  Ume  when  due,  m  the** 
notes,  by  the  history  of  the  payment 


1st 


Bo't  of  Jonas  A.  Leech  a  Farm,  containing  125  Acres  improved  Land  and  25  Acres 
wood  Land,  with  Stone  House,  Barn  &  Out-buildings  complete  =  150  Acres  @  JlOO 

Til*     A  OTfi  w         > 

Paid  him  in  Cash,  $5,000,  and  gave  him  my  two  Bonds  for  t^<^  .^^^-^  f  ^^^^M 
Mortgage  on  the  Farm,  one  for  $5,000,  payable  m  five  years,  and  one  for  $5,000, 
payable  in  ten  years,  each  on  Int.  @  6  %  pr.  annmn,  payable  semi-yearly. 

As  Jonas  A.  Leech  has  been  paid  in  full  for  the  farm  purchased  of  him,  no  entry  need  be  made  necessarily 
to  Ws  accent;  but  in  s" large  transactions  as  this,  it  is  well  to  show  them  in  the  P«"°»'«/^3'^°  ^J" 
Leeer  even  though  paid  in  full:  therefore  you  may  credit  Jonas  A.  Leech  (in  your  Day-Book)  with  the 
fer^  and  debUhfm  Juh  the  cash  and  bonds  given  in  payment,  making  the  entry  full  and  explicit  as  to  lUi 
details     When  SiiT  entry  in  your  Day-Book  il  posted,  you  may  rule  and  add  up  the  account  in  the  Leger, 

'In  thrcrh-BYok^'o"  ISe'c^edit  side,  enter  the  money  paid,  thus,  "By  Jonas  A.  Leech,  paid  in  part  for 
Farm,"  giving  the  date  and  amount 


ii 


Bo't  of  Jonas  A.  Leech  20  Acres  of  Wheat,  in  the  gromid,  @  $12  pr.  Acre,  to  be 
paid  for  4  mos.  after  it  is  harvested. 

This  requires  a  credit  to  Leech  in  the  Day-Book.    Make  the  correct  extension  of  the  amount,  which  if 
here  omittod. 


« 


Bo't  of  Jonas  A.  Leech,  his  Horses,  Cattle,  Dairy  Stock,  Farming  Implements,  &c., 

as  below  enumerated : —  ,    m.^^^    ^  -w^  -,     r\         r  u 

1  Span  Horses,  one  7,  the  other  8  yea«  old,  $200 ;  1  Yoke  Oxen,  5  years  old 
$70;  5  Steers,  yearlings  last  Spring,  @  810 ;  1  Durham  Bull,  4  years  old,  «100, 
1  Alderney  Bull,  yearling  last  Spring,  $50;  3  f  .^emey  Herfe«,  2  years  cJd  Iwt 
Snrinff  ®  S28 ;  17  Cows,  at  an  average  price  of  $23 ;  10  Hogs,  @  «*> ,  If  I'm 
ill  1  Large  Two-hors^  Wagon,  witl  Cover,  $110 ;  1  Ox-Cart,  $30 ;  2  P^ughs^ 
1  $10 ;  1  Harrow,  $8 ;  1  Horse  Rake,  $5 ;  Dairying  Utensils,  Fanning  Mill  Com 
Cultivator,  Pitch  Forks,  Spades,  Shovels,  Bakes,  Hoes,  Flails,  and  all  other  Farm- 
ing Implements  now  on  the  place,  for  the  grow  sum  agreed  between  us  of  $65 ; 
Stock  of  Hay,  supposed  to  be  40  Tons,  @  $10;  aq^a^itLtyof  Corn  Fodder  and 
Straw,  $30;  110  Bush.  Wheat  @  $1 ,  260  Bush.  Com  @  50/^;  100  Bush.  Oats 
@  35>I  1,000  Bush.  Turnips  @  12^;  10  Bush.  Euta  Bagas  @  25  f-  20  BoBh. 

p  ,         ^-s    or  A  |p^,liO.DU 

Paid'wrin  Cash,  $625,  and  a  Note  against  Geo.  Wheaton,  my  fa^or,  @  6  mos^due 
Feb.  10th,  proximo,  for  $355;  agreed  to  pay  him  in  Cash,  on  the  1st  of  next  Max., 
$500,  and  the  Bal.  8  mos.  from  date. 

T    .v    Ti      II    V j»  t«n«.  *   T.««ch  for  «11  the  aboTe  purchatei,  girlng  taU  p«itical«r»  in  syrtemsdo 

orSr  T^Ta  sT^aratf  ni  ?o"  tclZv^Zel^  enumerated,  placin^g  the  amount  of  it  at  the  left  of  the 
tC  Jdle'nt  Xmn  Add  up  these  se'veral  amounts,  and  extend  ^e  toUU  mto  the  dollar  and  cent  column. 
Debit  him  with  the  Cash,  and  with  the  noto  of  Wheaton  which  you  pay  hun. 

In  the  Cash-Book,  enter  the  money  paid  him,  on  the  credit  siae. 


(( 


Aereed  with  John  Jones  to  work  for  me  on  the  Farm,  at  anyand  all  kinds  of  Farm 
C  for  one  year,  @  $12  pr.  mo. ;  Bernard  Samson  do.,  @  $10  pr.  mo. ;  Patrick 
iSwuLd  @  $8  prTmo. ;  and  Lewis  W.  Gregory,  boy,  @  $3  pr.  mo. ;  also  h«ed 

44 


HISTORY  AND  ELUCIDATIONS,  SET  III.     2 

Lancaster,  PenvUa,  January  \st,  1852. 

Margaret  Wilson  as  Dairy-woman,  @  $5  pr.  mo. ;  Peggy  Morrison,  Milk-maid, 
@  $4  pr.  mo. ;  Charlotte  C.  Bryant,  Cook,  @  $5  pr.  mo. ;  aU  to  be  paid  monthly. 
Total,  $47  pr.  mo. 

This  requires  no  entry  in  either  Day-Book  or  Cash-Book.    It  is  merely  inserted  here  to  preserve  the  con- 

nected  history  of  the  whole  business.  -    .    .,  ^.      xv         v  *v     c  * 

The  paying  monthly  is  introduced  in  order  to  lessen  the  number  of  similar  entnea  through  the  Set; 
although  usually  females  employed,  and  sometimes  men,  are  paid  weekly. 


-    2d 


Bo't  for  Cash,  75  Bush.  Potatoes,  @  35  f,  and  1  Bbl.  Sweet  Potatoes,  @  $2.25.   ^ 

Enter  the  above  upon  the  credit  side  of  your  Cash-Book. 

3d    — 


Bo't  for  Cash,  10  lbs.  Beef,  @  10/^,  and  5  lbs.  Nails,  @  5/. 


Enter  this  precisely  similar  to  the  last    In  the  next  transaction  of  the  same  kind,  I  shall  give  you  no 

uueeestions  as  to  entering  it.  ,  ,.-    ,    ^  t   i.  «    •  i        «■ 

Such  entries  would  be  of  almost  daUy  occurrence  in  actual  life,  but  I  shall  give  only  a  few,  as  specimens. 
If  I  should  write  out  all  the  detailt  of  a  farmer's  life  for  a  year,  it  would  extend  this  Set  to  an  unreasonable 
length,  without  any  real  advantage. 


« 


Sent  30  Bush.  Wheat  and  25  Bush.  Corn  to  Wm.  Jacob's  Grist  Mill,  to  be  ground. 

The  miller  takes  toll  out  of  the  grain  sent,  to  pay  for  grinding.    No  entry  required. 
_ ■   10th 


Bo't  of  Orrin  Woolworth,  1  Rockaway  Wagon,  with  two  seats,  which  can  be  used  with 

one  or  two  horses,  for  $150,  to  be  paid  for  in  grain. 
Sold  him  on  %,  20  Bush.  Wheat,  @  $1.05  pr.  Bush. 

Credit  Mr.  Woolworth  in  your  Day-Book,  with  the  wagon  purchased,  and  debit  him  with  the  wheat  fur- 
nished. Specify  also  that  he  is  to  be  paid  in  grain.  As  a  general  rule,  it  is  well  to  mention  any  important 
fact  in  reference  to  the  bargain  in  making  entries  in  your  Day-Book. 


(( 


Bo't  for  Cash  of  Sundry  Persons,  as  pr.  Bills,  J  Bbl.  Pickled  Mackerel,  $6 ;  3  Bbls. 
Pork,  @  $12;  200  lbs.  Sugar,  @  5/^;  200  lbs.  Sugar,  @  7/^;  20  lbs.  Loaf  Sugar, 
®  11  /? ;  5  Gals.  Molasses,  @  30  /^ ;  1  Gal.  Sugar-house  Syrup,  50  /^ ;  10  lbs.  Tea, 
@50f;  2  Sacks,  320  lbs.  Coffee,  @  10)^;  2  lbs.  Saleratus,  @  12^/;  4  lbs.  Rai- 
sins, @  122  ^^ 

—  24th  — 


Sold  to  Ebenezer  Failing,  5  Tons  of  Hay  @  $15  pr.  Ton.  ^  • 

He  paid  me  in  part  by  20  Bush.  Buckwheat,  deUvered  at  Jacobs  Gnst  Mill,  @  55  f, 

Mr.  Failing  must  be  debited  with  the  hay,  and  credited  with  the  buckwheat. 

— 31st ; 

Paid  in  full  all  the  Hands  employed  by  me,  according  to  agreement,  of  1st  inst.,  $47. 

When  the  record  is  "  Paid"  simply,  as  in  this  case,  without  mentioning  how,  you  are  to  consider  it  a  cash 
payment,  and  enter  it  accordingly. 


February  4th 


Bo't  for  Cash,  1  quarter  of  Veal,  15  lbs.,  @  7/;  and  4  lbs.  Beef  Steak,  @  10/^. 

17th 


Exchanged  my  horse  Bill  (8  years  old)  for  a  better  match  to  my  other  horse,  of  the 
,  same  age,  (7  years,)  and  paid  in  Cash  the  difference  in  value,  $10. 

Here  you  need  only  to  enter  in  the  Cash-Book  the  difference  in  value  of  the  horses,  paid  in  money. 

21st 


Gave  to  my  wife  as  Shopping  Money  $25. 


Enter,  same  as  any  other  expense,  on  the  credit  side  of  tho  Cwh-Book. 

45 


4 


8     HISTORY  AND  ELUCIDATIONS,  SET  III 

Lancaster,  Penn'a,  February  28th,  1852. 

Isaac  McGuigan  has  paid  me  his  Note,  my  favor,  due  this  day,  8500. 

Enter  on  debit  side  of  Cash- Book. 


u 


Paid  Hands  in  full,  pr.  agreement,  $47. 

1852  ia  leap-year,  and  February  has  29  days,  but  the  29th  is  Sabbath,  and  all  payments  falling  due  on 
that  day  must  be  made  the  day  previous. 

—  March  Ist 


Paid  Jonas  A.  Leech,  on  %  of  Stock,  Farming  Implements,  &c.,  Bo't  Jan.  1st,  $500. 

Place  this  on  the  credit  side  of  your  Cash-Book;  and  also  debit  Mr.  Leech  with  it  in  the  Day-Book,  as  be 
WM  credited  .dth  the  whole  stock  and  implements  when  they  were  purchased  of  him  on  l«t  January. 

. 16th 

Bo't  for  Cash,  to  use  as  manure,  2  Tons  Peruvian  Guano  @  $45  pr.  Ton ;  2  Tons 

Patagonian  Guano  @  $25;  1,000  Bush.  Lime  ©10/^;  and  100  Bush.  Bone  Dust 

@50/^. 

Enter  in  Cash-Book  only. 

31st ' 


Paid  Hands  in  full,  pr.  agreement,  $47.  , 

Discharged  Patrick  McFarland,  because  I  find  him  untrustworthy. 

April  5th 


Sent  60  Bush.  Wheat  to  Wm.  Jacobs'  Grist  Mill  to  be  ground. 

No  entry  required. 

. -  13th  — 


Sold  my  Durham  Bull  to  Caleb  L.  Rodgers,  for  $125. 

Received  of  him  Cash  $50,  and  his  Note  @  4  mos.  for  Bal. 


Bill-Book. 


(( 


Killed  one  of  my  Steers.     Sold  for  Cash  the  2  Fore-quarters  of  Beef,  200  lbs.  @  7 1> , 
1  HiXuarter,  95  lbs.,  @  8/^;  10  lbs.  Tallow  @  8/;  and  reserved  the  Bal.  for  use. 
Gave  the  hide  to  the  Butcher  for  Killing  and  Selling. 

Enter  receipts  of  money  in  the  Caah-Book. 

^ 30th 


Paid  Hands  their  Wages  in  full,  $39. 


May  1st 


Sent  my  Horses  to  Ebenezer  Failing,  Blacksmith,  and  had  4  New  Shoes  put  on 
@  31V  ea.;  4  reset  @  12^/  ea. 

Credit  Mr.  Failing  in  the  proper  hook. 

-  19th  ■ 


Ebenezer  Failing  has  put  New  Coulter  in  my  Plough  and  2  New  Teeth  in  the  Harrow 

@  $2.50. 

^    . 25th 


t  "■ 


Sold  Ebenezer  Failing,  on  %,  8  Bush.  Seed  Potatoes,  @  50/. 

Debit  Mr.  Failing  in  the  proper  book. 

—  Slst 


Paid  Hands  in  full,  $39.  Also  Paid  6  d's.'  Work  of  Day  Laborers  @  75  ^ ;  Hired 
Two  New  Hands  for  3  months  from  date,  at  $14  pr.  mo.-names,  George  Mnnson, 
and  Wm.  Patterson,  Jr.  .  ,  ^  .i.„  i i,.^ 

Enter  in  the  C«h-Book  only  what  1.  paid.    It  would  be  well  for  "«rr  f.™er  wd  .Tejr  »*«*"»;;* 

K^Tatte-SrcT^' l^^r^*"  iJi!  r-^M^^^ 

to  be  left  entirely  to  the  memory,  because  this  often  causes  disputes  and  broils,  when  a  few  lines  in  wriUng, 

done  at  the  time,  would  satisfy  all  parties. 

4» 


HISTORY  AND  ELUCIDATIONS,  SET  III.      * 

Lancaster,  Penn'a,  Jujie  1st,  1852. 

Rec'd  Gash  of  Timothy  Tumbleston  for  his  Note,  my  favor,  due  this  day,  $520. 

All  receipts  to  be  placed  on  the  debit  side  of  Cash-Book. 
—    Ist    — 


Bo't  6  First-rate  Milch  Cows,  with  Calves,  Alderney  Stock,  @  $50  ea.,  of  Geo.  T. 

Lipman. 
Paid  Cash,  $150 ;  Bal.  due  1st  Sept. 

Credit  Lipman  with  the  cows,  and  charge  him  with  the  money  paid,  in  the  Day-Book. 
Also  enu^r  in  Cash-Book  correctly  the  money  paid  out. 

30th  — 


Paid  Wages  in  full,  $67. 

Also  paid  to  Jonas  A.  Leech  the  Interest  on  my  2  Bonds,  given  in  pay't  of  Farm, 
.  ea.  for  $5,000  =  $10,000  @  6  %,  for  6  mos.,  $300. 

All  payments  to  be  entered  on  the  credit  side  of  Cash-Book. 

July  9th 


Rec*d  of  James  McClain,  Cash  in  full  for  his  Note,  my  favor,  due  this  day,  $625. 
10th 


Bo't  of  Peter  A.  Phillips  a  Market  Wagon  and  Horse  for  $175. 
Paid  in  part  by  a  Note  I  hold  against  Mulford  &  McKee,  due  Aug.  15th,  for  $110, 
and  agreed  to  pay  the  Bal.  on  the  1st  of  Jan.  /53. 

Credit  Phillips  with  the  wagon  purchased  and  debit  him  with  the  Note. 

- 15th 


Paid  4  days'  Work  of  Men  to  help  at  Harvesting  @  $1.25. 
^ 31st  


Paid  Wages  in  full,  $67. 


Paid  Cash  for  Marketing,  $3.50. 


-  August  17th 


25th 


Sold  Caleb  Cope  2  of  my  Steers  @  $25  ea. 

When  no  mention  is  made  of  payment,  take  it  for  granted  nothing  is  paid,  and  debit  the  person  accordingly. 

28th  


Sold  for  Cash,  to  a  Prover,  my  2  remaining  Steers  @  $15  ea.,  and  12  Calves  (all 
except  my  Alderneys)  @  $5  ea. 


31st 


Paid  Wages  of  Hands  to  date,  $67. 

George  Munson  and  Wm.  Patterson,  Jr.  left  to-day. 

—    September  3d 


Rcc'd  of  G.  M.  Wharton,  Esq.,  Cash  in  full  for  Notes,  placed  in  his  hands  Mar.  11th 
for  collection,  to  wit : — 
One  drawn  by  John  Thomas,  due  Mar.  3d,  for  $250.00 

Int.  on  same  to  date,  $7.50. 
One  drawn  by  James  B.  Babcock,  due  Apr.  3d,  $269.50 

Int.  on  same  to  date,  $6.74.  \ 

Paid  him  fee  for  Professional  Services,  $50. 

Enter  in  the  Cash-Book,  on  the  debit  side,  the  money  received  for  notes  and  interest,  and  on  the  crodit 
side  the  money  paid  for  professional  services. 


4th 


Paid  Jonas  A.  Leech  in  full  for  Bal.  due  on  Stock,  Farming  Implements,  &c.  Bo't  of 
him  on  1st  Jan.  last,  $633  50. 

The  elucidation  of  Mar.  Ist  will  apply  to  this  entry. 

47 


iBk".  TBPf 


5     HISTOEY  AND  ELUCIDATIONS,  SET  III. 

Lancaster,  PenvJa,  September  16/A,  1852. 

E.  B.  Holden  &  Co.  have  this  day  sent  me  a  Bill  of  Sundi-y  Articles  of  Children's 
Clothing  and  other  Mdse.  obtained  at  their  Store  since  April  1st,  Am't  $62.25. 

E  B  llolden  k  Co.  must  of  course  be  credited  with  this  bill  of  Mdse. 

- U . 30th 

Paid  Wages  of  Hands  in  full  to  date,  $39. 
"    12  days'  Work  @  75  / 
. October  2d    ■ — 


''♦■ 


Bo't  of  E.  B.  Holden  &  Co.,  on  %,  Mdse.  as  pr.  Bill,  $10.75. 

Purchases  on  account  to  be  credited  the  person  of  whom  you  buy. 
. —      (( ■ 


Sold  E.  B.  Holden  k  Co.  on  %  600  lbs.  Butter,  in  Firkins,  @  16/;  and  225  lbs. 
Cheese,  @  8  /. 

Sales  on  account  to  be  debited  the  person  to  whom  you  selL 

12th  — — 


Sold  Mrs.  Sarah  C.  Dermott  50  Bush.  Potatoes,  @  35/^. 

(Will  pay  in  three  mos.) 
—  15th 


Stedman  &  Williston  have  this  day  finished  threshing  my  Wheat,  furnishing  a  Thresh- 
ing Machine,  1  Man  and  2  Horses.  They  threshed  600  Bush,  and  charged  6/?  pr. 
Bush. 

Credit  the  firm  who  did  the  work. 

23d 


Peggy  Morrison,  the  Milk-maid,  left  me  this  day  sick.  Think  I  shall  be  able  to  get 
along  without  hiring  another  at  present,  by  letting  Patrick  and  Lewis  milk. 

Paid  Peggy  3  weeks'  wages,  $3,  and  made  her  a  present  of  $3,  as  she  had  been  a 
good  girl,  and  is  now  sick. 

Enter  same  as  any  of  the  other  payments  of  wages. 

26th 


Sold  for  Cash  to  Wm.  R.  Patterson,  375  Bush.  Wheat,  @  $1. 
30th  


Paid  Wages  of  Hands  in  full,  $35. 

The  Slst  is  Sabbath. 

—    November  3d 


Sold  Orrin  Woolworth,  on  %,  50  Bush.  Potatoes,  @  35/;  50  Bush.  Wheat  @  $1 ; 
and  50  Bush.  Oats  @  35f. 


« 


y  _• 


Paid  Cash  for  a  Suit  of  Clothes  for  self,  $30 ;  Dresses  for  Wife,  $25 ;  Children's 
Clothing,  $20.15 ;  Crockery,  $15.40 ;  and  Groceries,  $18.25. 

» 17th  • 

Paid  Jonas  A.  Leech  for  Field  of  Wheat  Bo't  on  Jan.  1st,  as  pr.  agreement,  $240. 

See  entry  of  the  purchase,  Jan.  Ist,  and  elucidation  of  Mar.  IsL 

27th 


Richard  P.  Simpkins  finished  chopping  wood  on  my  Farm  to-day.  He  has  cut  50 
cords,  @  50  /^  pr.  cord.  . 

Paid  him  in  part  by  an  order  on  E.  B.  Holden  &  Co.,  for  Dry-Goods  out  of  their 
store,  to  the  Am't  of  $10 ;  and  Cash  $10. 

The  Bal.  remains  unpaid. 

Credit  Richard  P.  Simpkins  with  whole  amount  of  the  chopping,  and  debit  him  with  ord«r  and  cash. 
Then  credit  E.  B.  Holden  k  Co.  with  your  order,  faror  of  Simpkins. 
Enter  the  Cash  also  in  Cash-Book. 

30th 


Paid  Hands  their  Wages  in  full,  $35. 


48 


HISTORY  AND  ELUCIDATIONS,  SET  III.      6 

Lancaster,  Penn^a,  December  3c?,  1852. 

Sold  E.  B.  Holden  k  Co.  on  %,  20  Cords  Wood,  delivered  at  their  Store,  @  $3. 

7th 


Eec*d  of  Caleb  S.  Rodgers  Cash  in  full  for  his  Note  of  Apr.  13th,  @  4  mos.,  due 
Aug.  16th,  $75,  and  for  Int.  from  Aug.  16th  to  date,  $1.39. 

'     Enter  in  Cash-Book  the  whole  amount  received  for  note  and  interest    As  no  account  was  opened  with 
Mr.  Rodgers  on  the  Z3th  April,  (which  see,)  he  is  not  to  receive  any  credit  here. 


u 


Paid  Geo.  T.  Lipman  Bal.  of  his  %,  in  full,  due  Sept.  1st,  $150 ;  and  Int.  on  same 
from  Sept.  1st  to  date,  $2.40. 

Credit  Mr.  Lipman  with  interest  on  his  account,  and  dehit  him  with  the  payment  in  fiilL 

14th 


Rec'd  of  Caleb  Cope  Cash  in  full  of  his  %,  $50. 


(4 


Sold  Stedman  k  Williston  on  %,  100  Bush.  Corn  @  50  f, 
20th 


Sold  Richard  P.  Simpkins  on  %,  5  Bush.  Wheat  @  $1. 
25th 


Sold  Caleb  Cope  2  Aldemey  Calves  @  $15 ;  1  Alderney  Cow  @  $60 ;  1  Yoke  Oxen 

@  $75. 

See  Aug.  25th. 

28th  


Sold  for  Cash  to  Wm.  Jacobs,  750  Bush.  Oats  @  35^;  800  Bush.  Corn  @  55/;  50 
Bush.  Buckwheat  @  60  f. 

u       . 


Paid  the  following  contributions  to  charitable  objects : 

Bible  Society,  $20 ;  Tract  Society,  $20 ;  Foreign  Missions,  $20 ;  Home  Mis- 
sions, $20;  Sabbath  School  Union,  $20;  For  building  Churches,  $100;  To  our 
Pastor,  $50. 

AJso  paid  Schooling  of  William  and  Mary  for  one  year  @  $75  ea. 

^  Cash-Book  entries.  ^ 

30th  


Sold  in  the  City  of  Philada.,  for  Cash,  1,725  lbs.  Cheese,  @  9/^;  and  900  lbs.  Jur- 

kin  Butter,  @  \%f. 
Paid  Freight  and  other  Expenses  on  same,  $11.55. 
31st  


Ebenezer  Failing  has  this  day  rendered  me  a  Bill  for  repairing  Wagons  and  Fanning 
Implements,  Shoeing  Horses,  and  other  Blacksmithing  to  date,  $53.75. 


« 


Paid  Anson  Holcomb,  Cooper,  for  Bill  of  Butter  Firkins,  Cheese  Boxes,  and  Cooper- 
ing, during  the  past  year,  $26.25. 


Paid  Wages  in  full,  $35. 


(( 


a 


Paid  Int.  on  Bonds  &  Mortgages,  favor  of  Jonas  A.  Leech,  $300. 


(( 


Rec*d  of  Simpson  Treat,  Milk-man,  Cash  fpr  9,500  quarts  Milk  furnished  him  during 
the  year,  as  pr.  agreement,. taken  by  him  from  the  Farm  each  morning,  @  3^  pr. 
quart. 

G  49- 


Dr, 


FARM  ACCOUNT. 

Farm. 


1852. 

Jan. 

u 
ti 
u 


<t 


«^ 

a 

Feb. 

u 
Mar. 


8 

10 

24 

81 

4 

17 

21 

28 

16 

31 

April  30 

May     1 

"     19 


To  Cost,  150  Acres  @  $100    -        - 

♦*  20  Acres  Wheat  in  the  ground  @  ?12      "        "       J        " 
«  Horses,  Cattle,  Dairy  Stock,  Fanning  Implements,  &c.  - 

«  75  Bush.  Potatoes       -        -        -        -        "        "       @  ^^" 

«  1  Bbl.  Sweet  Potatoes 

"  Beef  &  Nails      - 

"  1  Rockaway  Wagon 

**  Mackerel,  Pork  &  Groceries        -        -        -        -        '    ..Z 

«  20  Bush.  Wheat @  ^^^ 

"  Wages  of  Hands         -------- 

"  Veal  &  Beef  -        -        - 

<<  difference  in  Exchange  of  Horses        •        •        •        • 

"  Shopping  Money     -------- 

«  Wages  of  Hands         -        -        •        -        "        •        " 

"  Guano,  Lime  &  Bone  Dust      -        -  •     - 

"  Wages  of  Hands        -------- 


15,000 

240 

2,113 

26 

2 

1 


<c 


"  Blacksmithing 


(( 


(( 


(C 

31 

June 

1 

(( 

30 

<c 

(( 

July 

10 

(( 

15 

(( 

31 

Aug. 

17 

(C 

31 

Sept. 

3 

«( 

16 

i( 

30 

Oct. 

2 

i( 

15 

« 

23 

(( 

30 

Nov. 

8 

(( 

27 

u 

30 

Dec. 

7 

u 

28 

u 

30 

a 

31 

u 

(4 

"  Wages  of  Hands Aftr^n 

"  6  Alderney  Cows  with  Calves ^  »^^ 

"  Wages  of  Hands         -        -      i  -        -        -        -        - 
**  Int.  on  Bonds  to  Leech   ------- 

"  Market  Wagon  &  Horse 

"  Wages  of  Hands     -        -        -•- 


"  Marketing      ------ 

"  Wages  of  Hands         -        -        -        - 

"  Professional  Services  of  Geo.  M.  Wharton 
"  Clothing  &  other  Mdse.       -        .        - 
"  Wages  of  Hands    -        -        -        -        - 

"  Mdse.,  of  E.  B.  Holden  &  Co.     - 
«  Threshing  600  Bush.  Wheat    - 

Wages  of  Hands         .        -        -        - 


@^f 


u 
« 


Clothing,  Crockery  &  Groceries   '''''' 


u 


« 


Chopping  50  Cords  Wood ® 

"  Wages  of  Hands         .------ 

"  Int.  paid  Geo.  T.  Lipman         -        - 

"  Contributions  $250.00,  Schooling  $150 

"  Freight  &  Expenses  to  Market         -        -        -        - 

«  Blacksmithing  $53.75,  Coopering  $26.25     - 

"  Wages  of  Hands     ------- 

"  Int.  on  Bonds  to  Leech       - 


Net  (fainSf  at  9hovm  on  page  53 


150 

107 

11 

47 

1 

10 

25 

47 

290 

47 

39 

1 

2 

43 

300 

67 

300 

175 

5 


00 

00 

50 

25 

25 

25 

00 

95 

00 

00 

45 

00 

00 

00 


67 
3 
67 
50 
62 
48 
10 
36 
6 
35 
108 
25 
35 
2 
400 
11 
80 
35 
300 


00 

00 

00 

75 

50 

50 

00 

00 

00 

00 

00 

00 

50 

00 

00 

25 


00 

75 

00 

00 

00 

80 

00 

00 

40 

00 

55 

00 

00 

00 


20,436 

815 


65 

67 


$20,752  32 


FARM  ACCOUNT. 

Farm, 


.^ 


1851 

Jan. 

10 

Bj 

t( 

24 

a 

April 

13 

u 

a 

4t 

a 

it 

ii 

iC 

May 
Aug. 

25 
25 

28 

u 

(( 

u 

Sept. 
Oct. 

3 

2 

« 

(( 

12 

« 

a 

26 

« 

Nov. 

3 

(( 

u 

(( 

« 

u 

u 

(( 

Dec. 

3 

u 

(( 

7 

u 

i€ 

14 

u 

€i 

20 

u 

tt 

25 

a 

¥ 

({ 

tt 

it 

(( 

tt 

u 

28 

tt 

u 

(( 

tt 

'    li 

u 

tt 

u 

30 

tt 

ti 

(( 

tt 

*t 

81 

tt 

20  Bush.  Wheat  -        -        -        -        -        -  @  $1.05 

5  Tons  Hay @  $15. 

Durham  Bull       --        •-        -        -        -- 
2  Fore-quarters,  200  lbs.  Beef  -        -        -        -       @7f 

1  Hind-quarter,  95  lbs.  Beef  -  -  -  -  @  8>^ 
10  lbs.  Tallow  -  -  -  -  .  '  @Sf^ 
8  Bush.  Seed  Potatoes         -        -        -        -        -  @  50^ 

2  Steers @  $25. 

2     "      sold  Drover   -        -        -        -        -        -  @  $15. 

12  Calves"        "  -        .        .        .        •       @  $5. 

Interest  on  Notes  collected  -        -        -        -        -      -  - 

Butter  k  Cheese      -------- 

50  Bush.  Potatoes @  35;^ 

375   "     Wheat      - @  $1. 

50     "     Potatoes        -        -        -  *     - '      -        -  @  35/^ 

50     "     Wheat @  $1. 

50     "     Oats @  35/^ 

20  Cords  Wood       -        -        -        -   '    -        -       @  $3. 

Interest  on  C.  L.  Rodgers'  Note   -        -        -        -        - 

100  Bush,  Corn       -        -        -        -        -        -       @  50)^ 

5         "      Wheat        -        -        -        -     .  -        -  @  $1. 

2  Alderney  Calves  -        -        -        --        -       @$15. 

1        "        Cow - 

1  Yoke  Oxen  -        -        -        -        --        -- 

750  Bush.  Oats @  35^ 

800     "      Corn ®  b5f^ 

50       "     Buckwheat @W 

1725  lbs.  Cheese @  9/^ 

900     «    Butter  - @  18;^ 

9,500  qts.  Milk @  3/^ 


Value  qfFarm^  Stocky  ^<^,^r.  Inventori/ 


Or. 


21 

75 

125 


00 
00 
00 


14100 
60 
80 
00 
00 


7 

4 

50 


o 


S0!00 

6o;oo 

14!24 

114-00 

17'50 


375 
17 


00 
50 


50,00 

1750 

6000 

139 

5000 

5J00 

3000 

6000 

75100 

26250 

440|00 


80 
155 
162 


00 
25 
00 


285i00 


2,609j28 


18,143 


04 


$20,75232  ^ 


60 


61 


I 


INVENTORY-BOOK,  SET  III. 


l!    '^• 


@$60. 

$45. 


(( 


"  S2 


Inventory  of  my  Property,  Dec.  31st,  1852 : 

1  Farm  of  150  Acres,  worth  $10  an  Acre  more  tlian  when  I 

bought  it,  owing  to  good  cultivation ;  but  which  I  will  value 

at  the  original  cost,  JlOO.  pr.  Acre 

1  Span  Horses 

1  Horse 

1  Alderney  Bull,  2  years  old, 

2  "         Cows, 

6  "  Do. 
16  Common  Do.  (1  died) 

7  Alderney  Calves, 

8  Hogs,       ; 
20  Pigs, 
1  Rockaway  "Wagon 

1  Large  Double  Wagon,  with  Cover 
Market  Wagon  $70.,  Ox-Cart  $25. 

2  Ploughs, 

Harrow  $7.,  Horse-Rake  $4.50 
Fanning  Mill  &  Corn  Cultivator 
Dairying  Utensils,    Forks,    Spades,    Shovels,   Rak6s, 

Hoes,  Flails,  and  other  Implements,  valued  at 


(( 


$15. 

$6. 

$3. 


$250.00 
100.00 
120.00 
120.00 
270.00 
320.00 
105.00 
48.00 
60.00 


142.00 

100.00 

95.00 

'@$7.50    15.00 

11.50 

23.00 


40.00 


170  Bush.  Wheat, 

250      "      Corn, 

150     "     Oats, 

40       "     Buckwheat, 

115     "     Potatoes, 

48  Tons  Hay, 

3  Stacks  Straw, 

Quantity  of  Corn  Fodder 

210  lbs.  Butter, 

154    "    Cheese, 

1,125  Bush.  Turnips, 

130         "     Ruta  Bagas, 

25  Cords  Hickory  Wood, 

Quantity  of  Stable  Manure 


@$1. 

35/^ 

55/^ 

85/ 

$10. 

$9. 


(( 


u 


« 


(( 


@W 

"  9/ 
"  Wf 
«  25/ 
«  $3. 

Total 


170.00 

125.00 
52.50 
22.00 
40.25 

480.00 
27.00 
42.00 
37.80 
13.86 

140.63 
32.50 
75.00 
65.00 


15,000 


00 


1,393 


00 


426 


60 


1,323 


$18,143 


54 
04 


52 


DEDUCTIONS  FROM  SET  HI. 

UNSETTLED  BALANCES  ON  THE  LEGER. 


Debts  due  me. 


Ebenezer  Failing 
Caleb  Cope 
E.  B.  Holden  &  Co. 
Mrs.  S.  C.  Dermott 
Stedman  &  Williston 


Debts  I  owe. 


Orrin  Woolworth 
Peter  A.  Phillips 


44  00 
65  00 


$109  00 


Capital  at  Starting^ 
Cash  on  hand,  pr.  Cash-Book,  at  starting 
Notes  held  against  others, 


u 


u 


Present  Worth. 
Cash  on  hand,  pr.  Cash-Book,  at  closing 
Property  owned  by  me,  pr.  Inventory-Book, 
Personal  accounts  due  me,  pr.  Leger, 


6,275.00 
-        -     2,629.50 

Capital       $8,904.50 


888.63 

18,143.04 

297.50 


Assets 
109.00 


$19,329.17 


Deduct  liabilities,  viz. : — 
Personal  accounts  I  owe,  pr.  Leger,      -        -        -        -        . 

Bonds  &  Mortgages  Payable,  [See  entry  of  the  purchase  of 

Farm,  on  the  1st  of  Jan.,  1852.]      -        .        -        .        10,000.00     $10,109.00 


Present  worth,  or  net  capital  at  closing 


Net  Grains  in  Business. 
Net  capital  at  closing  business 
Deduct  net  capital  at  commencing 


$9,220.17 


$9,220.17 
8,904.50 


Net  gains      $315.67 


From  the  above  statements,  you  will  perceive  that : — 
The  amount  invested  by  you  at  starting  business  is  termed  capital* 
Your  available  means  at  closing  are  termed  assets. 
Your  indebtedness  at  closing  is  termed  liabilities. 

The  difference  between  your  assets  and  liabilities  is  termed  net  capital  or  present 
worth.     (Or,  if  the  liabilities  be  the  greater,  net  insolvency.) 

Also, 
By  taking  your  capital  at  starting  from  your  present  worth,  you  may  ascertain  your 

gains  in  business. 


In  a  losing  business. 
By  taking  your  present  worth  from  your  capital  at  starting,  you  may  ascertain  your 

losses  in  business. 


d!ff.Jnn!7I".°'"  '*?? '  ^^^*'^™;^^«  "P  t^'8  <»Pital  are  called  effect,;  and  if  you  owed  debte  also  at  gtan.ng,  the 
«^ii^?»e«c  amount  of  your  efFecta  and  debts  would  be  caUed  net  capital,  or,  if  the  debts  were  the  greater, 

63 


! 


QUESTIONS  FOR  REVIEW,  SET  HI. 


O,  what  Wess  do  the  n.aterial<.  on  pages  4*  «»  ff ''-^iltl^t^^^^^^ 

?„- lurf";:- X"  Srof  wC^^tr^^^         -a^-aing  the  th^^of 

Whrwm  you  find  an  elucidation  of  the  manner  of  entering  any  transaction  recorded  in  the  hia- 
?;SS^nrnf^rait^tXtLir^^^^^         -..to  he 

AVhS  ifto  be  done  after  the  Cash-Book  and  Day-Book  are  completed  ? 

What  after  finishing  the  posting  ? 

What  after  re-examining  the  postmg  ? 

What  after  closing  the  Leger  ? 

"What  test  of  accuracy  have  you? 

What  is  the  Inventory-Book  ?  i  v  ? 

What  is  exHbited  on  the  debit  side  of  the  Farm  account  1  ^  ■ 

What  on  the  credit  side?  ..9 

Of  what  is  this  account  an  exemplification  f 

What  does  the  account  as  here  shown  enable  you  to  ascertain  ? 

Of  what  is  it  a  proof?  . 

Mention  the  persons  who  owe  you  on  closing  business. 

What  is  the  gross  amount  ? 

Mention  those  whom  you  owe.  , 

What  is  the  gross  amount?     ,      ,        ^  _,.     « 

What  amount  of  cash  was  on  hand  at  starting : 

What  amount  of  notes  did  you  hold  against  others  \ 

^::  r„:^  sirs t  t:^t^L.y^^r>^^^  of  pro^^y  is  owned  hy  you  r   What 

amount  is  due  on  personal  accounts  ?  _^  •  ^  9 

T^.  -  ttTiS:^it:i3ao  y^ow^jTo^  .»ch  on  honds  and  mortgage.  T 
What  are  the  totalliabilities?    How  ascertained  ?        „„,^.rt.i„cd?     "'' 
What  is  the  present  worth  or  net  capital  at  closing  ?    How  ascertained  I 
What  have  b^n  your  gains  in  business  ?    How  ascertoined  ? 
What  is  the  amount  invested  by  vou  at  starting  termed  ! 
■m»t  are  the  various  items  which  make  up  this  capital  called  :  ,        „,. 

wl  w^uld  thTdlfcrence  between  your  effects  and  debts  at  starUng  be  called? 

What  are  your  available  means  at  closing  termed  C 

What  is  your  indebtedness  at  closing  termed  ? 

What  is  the  difference  between  your  assets  and  liabilities  termed? 

How  do  you  ascertain  your  gains  in  business.     H^^.X^f  ^^!f '^^  ig  1 

AVhat  is  to  be.  done,  if  bad  debts  exist  at  closing  ?     [See  Note,  page  ic.J 


54 


SET  lY,  SINGLE  ENTRY. 


I  HAVE  given  a  Crew's  Leger  in  connection  with  the  Western  river  Steamboat  Set  of 
books,  pages  200-203,  for  keeping  accounts  with  the  hands  on  board  the  boat,  and  the 
form  of  accounts  there  shown  is  so  simple,  that  I  concluded,  in  revising  for  this  edition, 
to  give  here  an  illustration  of  the  same  method,  for  the  use  of  persons  whose  business  is 
very  limited,  and  who  may  prefer  to  adopt  it.  It  is  to  use  a  Leger  only,  ruled  like  the 
Oash-Book  to  Set  I,  [page  19,]  and  to  enter  directly  in  it  all  the  debits  or  credits  to  the 
different  parties  with  whom  you  have  dealings,  without  the  intervention  of  the  Day-Book. 
The  Cash  account  may  be  kept  in  a  portion  of  the  Leger,  instead  of  having  a  separate 
Cash-Book,  and  any  property  accounts  may  be  also  kept,  if  desired,  as  well  as  in  the 

preceding  Sets  given.  ,,  ,  .1 

I  have  omitted  the  Cash  account,  because  its  form  and  treatment  would  be  precisely 
like  Cash-Book,  Set  I,  above  referred  to ;  and  also,  to  save  room,  have  omitted  all 
statements,  deductions,  &c.  Indeed,  I  have  not  endeavored  to  make  the  Set  complete, 
as  I  do  not  intend  it  to  be  written  up.  You  will  be  able  at  once  to  comprehend  it,  by  a 
mere  examination,  after  having  progressed  thus  far. 

The  Index  (here  omitted)  would  of  course  be  needed,  for  convenient  reference  to  the 
Leger. 


55 


LEGER,  SET  IV. 

James  B.  Ltmghead. 


1862. 

Dec. 

u 
i( 
u 

(( 
u 
u 


1853. 

J&n. 


3 

(( 

23 

27 
31 


To  Re-setting  4  Tires  to  Wagon 
"  Mending  King  Bolt 
2  Nuts  to  Bolts 

Shoeing  Oxen,  $1.50,  Clevis  37/ 
6  Iron  Wedges,  different  sizes, 
Mending  Eye  to  Trace  Chain 
By  4  Bush.  Potatoes  @  35  / 
"  16  lbs.  Butter  @  20  >? 
"  Bal  to  New  % 


u 


To  Bal.  from  Old  % 


Herman  Logan. 


1852. 

Dec. 

4 

« 

11 

i( 

(( 

a 

18 

u 

25 

« 

31 

n 

« 

By  4  days'  Work  @  $1. 
«  52  "         «      *'  $1. 

To  Cash  on  % 

5y  43  days'  Work  @  $1. 

"  5     "  «       "  $1. 

«  31    «         «      «  JL 

To  Cash  in  full 


Orlando  Chase. 


1852. 

Dec. 

u 
ii 
u 
u 
u 
ii 
a 
a 
a 

C( 


1853. 
Jan. 


10 

a 

16 
21 
24 
30 

31 

(( 


By  4  lbs.  Tea®  45)^ 

"  1   "    Allspice 

«  2   "    Raisins®  12V 
To  5   "    Wrought  Nails  for  Doors  ®  25f 

"  Iron  Bar  for  Store  Windows 
By  20  lbs.  Brown  Sugar  @Vf 

"  10   "    Coffee  "9/^ 

"  1  Gal.  Molasses 

"  14  Yds.  Merrimac  Prints  ®  12'/ 

«  30^  "     Lowell  Sheeting   "  10  / 

"  Bal  to  New  % 


By  Bal.  from  Old  % 


Dr.      Cr. 


1 

3 


00 
25 
13 

87 
38 
10 


8 


73 
13 


1 
3 


8 


40 
20 

L? 
73 


Mrs.  Mary  Pennington 


Dr.      Cr. 


6  00 


16 


400 
550 


22 


50 


50 


4|75 
500 
325 


2250 


Dr.      Cr. 


25 

88 


7  65 


9 


78 


1 


1 

3 


80 
13 
25 


50 
90 
40 
75 
05 


9 


78 


65 


Dr.      Cr. 


^"66 


a 
a 
a 
u 
a 
(( 
a 
a 
u 
a 
a 
a 
a 
it 
a 
a 
li 
n 
a 
a 
n 
a 


LEGER,  SET  IV. 

Wendall  A.  Lyons. 


2 


1852. 

Dec. 

6 

(( 

7 

(( 

(( 

(( 

9 

(( 

u 

(( 

17 

« 

u 

u 

20 

a 

22 

1853. 

Jan. 


25 
27 

it 

28 

29 
« 

(C 

i( 

30 

ti 

a 

31 
ii 

Xi 

ii 
ii 
ii 
a 
a 


li 
a 


To  4  New  Linch-Pins 
"  1  Pr.  Iron  Hinges  for  Bam 

((   -^    ii        ii  a         ii        a 

"  Ironing  Cart,  as  pr.  agreement 
"  Mending  Plough 
"  Repairs  to  Carriage 
By  10  Bush.  Wheat  @  $1. 
"  4       "      Corn      "  bOf 
"  20  lbs.  Cheese      "    If 
To  Mending  Log  Chain 

Shoeing  Horses,  5  New  Shoes 

Ironing  York  Wagon  in  the  best  manner,  as]  agreed, 
"  Making  3  Screws  and  Nuts 
"  Mending  Stirrup  to  Saddle 
"  4  New  Teeth  in  Harrow 
"  Irons  on  Whipple-trees 
By  Cash  on  % 

15  Bush.  Potatoes  ®  35  )^ 
"      Oats         "  40/ 
To  Log  Chain 
"  1  Small  Bolt 
"  Mending  Iron  Kettle 
"  Repairing  Sleigh,  as  agreed    " 
By  Cash  on  % 
To  Putting  Bands  on  Beetle 

3  Strong  Latches  to  Barn  Doors 

1  Bolt  for  Pump 

Mending  Shovel 

"        Manure  Forks 

Staple  &  Ring  for  Hitching-Post 

Repairing  Wheel-Barrow 
By  Bal  to  New  %  / 


"  3 


ii 
ii 
ii 
ii 
ii 

a 


To  Bal.  from  Old  % 


Dr.      Ci. 


38 

75 

62 

10  50 

125 

313 


25 
156 
25  00 
45 
10 
75 
00 


2  50 
16 
44 

4  25 


50 
13 
19 
31 
62 
38 
94 


5716 


12 


31 


10  00 
2  00 
140 


20  00 


5 
1 


25 
20 


5  00 


12 
57 


81 

16 


1852. 

Dec. 


10 
15 


Wilson  P.  Jones,  Jr. 


To  Shoeing  Horses, 

4  New  Shoes    ®  31V 
4  Shoes,  reset,  "  12V 

"  Repairing  Wagon 

By  Cash  in  full 


Dr.      Cr. 


H 


1.25 

.50 


57 


1 

2 


75 
25 


00 


00 
00 


1||Sf 


I 


i$n3»i^«» 


d^^^^U^ 


BY 


& 


59 


1^ 


INTKODUCTION  • 

TO 

DOUBLE   ENTRY  BOOK-KEEPING. 


Book-Keepinq  by  DouUe  Untry  is  the  keeping  of  accounts  in  such  a  manner  that 
each  entry  contains  hoik  a  debit  and  a  credit,  and  hence  the  name. 

BooK-KEEPiNQ  by  Single  Entry,  as  already  explained,  embraces  only  the  accounts 
of  persons ;  but,  in  Double  Entry  Book-keeping,  persons  and  things  are  alike  debited 
and  credited,  and  accounts  are  kept,  not  only  with  individuals,  but  also  with  the  different 
species  of  property  in  your  possession,  and  with  the  different  branches  of  your  gains 
and  losses  in  business.  All  accounts  are  representative,  of  whatever  name  or  descrip- 
tion ;  thus,  accounts  kept  with  persons  represent  your  business  relations  with  those 
persons,  accounts  kept  with  the  different  species  of  property  in  your  possession  repre- 
sent your  business  relations  with  those  different  kinds  of  property,  and  accounts  with 
the  various  branches  of  your  gains  and  losses  represent  you  as  gaining  or  losing  in 
business. 

The  distinguishing  feature  of  Double  Entry  Book-keeping  consists  in  carryinf^  out  a 
mathematical  principle  of  equilibrium,  under  the  titles  of  debtor  and  creditor,  or  of 
debits  and  credits.  It  is  this :  In  amount,  every  debit  must  have  a  credit,  and 
VICE  VERSA,  every  CREDIT  A  DEBIT.*  The  particular  method  or  form  in  which  books 
are  kept  is  not  essential,  so  that  they  conform  to  the  principles  of  Double  Entrv,  and 
preserve  strictly  the  equilibrium  of  debit  and  credit. 

The  Origin  of  the  science  of  keeping  books  by  Double  Entry  has  been  a  matter  of 
much  speculation  by  different  writers  on  the  subject,  but  nothing  definite  can  be  ascer- 
tained respecting  it.  McCulloch,  in  his  Commercial  Dictionary,  says  "it  was  first 
practised  in  Venice,  Genoa,  and  other  towns  of  Italy,  where  trade  was  conducted  on  an 
extensive  scale  at  a  much  earlier  date  than  in  England,  France,  or  other  parts  of 
Europe."  Kelly,  in  his  treatise  on  Book-keeping,  published  in  London  in  1833,  (first 
edition  in  1801,)  says,  "  it  is  generally  supposed  to  have  been  first  practised  at  Venice 
in  the  fifteenth  century,  when  that  city  was  the  grand  emporium  of  Europe :"  although 
he  adds,  "it  is  remarkable  that  the  first  European  who  translated  Algebra  from  the 
writings  of  the  Arabians  is  also  supposed  to  have  written  the  first  treatise  on  Book- 
keeping. It  was  published  in  the  Italian  language  at  Venice,  about  the  year  1495,  by 
Lucas  de  Burgo,  a  friar,  who  likewise  wrote  several  useful  works  on  mathematical 
subjects."  Colt,  in  a  lecture  delivered  at  Boston,  says  that  the  Italians  "  most  likely 
picked  up,  among  other  things,  all  they  ever  knew  of  Double  Entry  Book-keeping,  at 
Constantinople,  Alexandria,  or  some  other  eastern  city,  whose  traders  more  anciently 
may  have  practised  it  in  their  commerce  with  northern  Africa,  Hindostan,  and  the 
countries  bordering  upon  the  Red  Sea:" — and  thinks  it  more  likely  that  the  Hanseatic 
merchants  are  the  inventors  of  Double  Entry  than  the  Italians. 

To  whomsoever  the  credit  properly  belongs,  the  Italians  have  pretty  generally 
received  it,  and  that  system  of  Double  Entry  which  is  shown  in  the  first  part  of  this 

*  Recollect  that  this  eqnilibriom  is  an  eqailibrinm  of  amount,  and  not  in  the  number  of  debits  and  credits.     On« 
debit  may  be  balanced  by  several  credits,  or  one  credit  by  several  debits,  if  the  gross  amounts  in  each  case  ar<»  eouaJ 

60 


iNTRODUCTIOIf.  -  | 

Blout'TThf  l'""^!  *''%^»y-Book  in  history  form,  (originally  called  Waste-Book  or 

Since  the  publication  of  the  first  work  at  Venice,  there  had  been,  previous  to  1810 
.ccordmg  to  /,fer,  of  Brussels,  "150  authors  on  Book-keeping  in 'dVerent  parts  of 

Ital71dTfnt°°!  ^'  '"^r^"''''  ^^  '"  9'"^'"''^'  25  i"  France,  7  in  Holland,  3  in 
Italy,  and  30  m  England.     Subsequent  to  that  time,  it  is  not  improbable  there  have 

Tb?  r^r^V^K-'"  '?  'u'  '"''J^?'  -""^  '^^'  •">«»''y  ^'  '^^ently  had  its  full  sharl! 
•n         Ki- T  °I  .t'"\'°:^  .'>'«  examined  upwards  of  20  different  treatises  on  Book-keep 

atrgiiVnty     ''^*^^  ""^^ '''''  *^<='--  «^  ^  '-^^  -''-  0'  -^' 

.nJ''®'"^  ^"""^  ^''^n  «0"8"»i"  improyements  in  the  method  of  keeping  accounts,  and  very 

htnm^d^  fir  f^  "^T^' fr  "^  ^y'T''  '^1"'^«*J;  •>»*  tl"^«  improvements  have 
bv  nn  ™f  '  I  .*  """^  Pf'v^'y  P'**"'"*'  accountants,  and  writers  on  the  subject  have 
by  no  means  kept  pace  with  the  progress  that  has  been  made. 

it  ■^\VtSl»'l''^  Y"  ^''°  f^Pio^j^  the  first  three  Sets  here  shown,  because 
)t  18  the  basis  of  all  other  forms,  and  therefore  the  best  form  from  which  to  earn  the 

Da!  Ck't'  °^*'•'  /f"""-  J'^  ■"*'"  ^'^^^  of  '^''J'  '^  already  stated  are  tJe 
Day-Book,  Journal,  and  Leger.     More  or  less  auxiliary  books  are  used  in  connect  on 

with  these  according  to  the  nature  of  the  business  transacted;  but  as  a  knoXd  "e  of 
K^«  Lf  rr  "  ?«'y  °''*T\^'  '' ''  »°*  *''"S''*  ^'^  ^  encumber  the  mind  of  the 
the  work  TnH  "/"Jl  ""^'tV<?  '^'^"^^'^S^J  "-fitted  until  a  subsequent  part  of 
tL     !      J  u  "'*  *^°f  "^  ,*"**  fif"*  ^«*''  I  have  shown  another  method  of  keening 

and  in  the  sixth  Set  nearly  the  same  method  is  continued.  Set  VI,  however  had  Wn 
sffin'i:f  P-"-'"J«ference  to  its  practical  character,  as  'suited  to  a  forek^ 
shippmg  and  commission  business;  and  the  various  auxiliary  books  are  here  introduced 
for  the  first  time.     Set  VII,  of  the  High-School  edition,  illustrates  one  of  the  S 

In V  one  for?  " b'. ""'*  T r^'^'  T'  "^'^  '"  '^'  ^"^^'^^  kinds  of  buless  than 
any  one  form  :-while  m  the  Counting-House  edition,  a  large  number  of  practical  forZ 

.;/«..o««^»  are  given,  somehow  used  by  and  obtained  from  accountants^rtrS 
.leparments  of  trade  and  Immerce  in  the  United  States,  and  others  ori.lal^^thZ 
author,  winch  will  materially  lessen  the  amount  of  writing  and  labor  teouistte  in  keen  n^ 
books  Thus  the  design  has  been,  from  the  simplest  commence  JnTo  at  ainto'^hf 
most  thorough  and  practical  results  by  a  plain,  ea.^.  and  graduallfprogresl:  procl 

DEBTOR  AND  CREDITOR  DEFINED 
unKbiyiS'"  *''  ^"""  "'  '''"'  '''■'''  "  ^^'-^  ''-"'J'  -''-•'  o-«.  or  which  is 

has'crf"rr:drX*tion^""  "  """'  ''''"'  '^^'^  ''""'''  ''"•=''  '^  °'"^<^'  "'  '^<* 

Therefore,  whenever  any  personal  account,  property  account,  or  account  of  ^aina 

","  Jbr  "  ^'^""^  "?  ^r  '""''=«•  ''  signifies  that  the  person' or  thing  "epresln^ 

vT^lZ'^  ^°" '  """^  Z^^"^^''  *°y "«"'"""'  ^  •'^edited  on  your  books,  iLSX 
you  owe  the  person  or  thing  so  represented.  "gmnts  tnal 

GENERAL  RULE 

FOR  JOURNALIZINO   TRANSACTIONS,  OR 

FOR  DETERMINING  WHAT  TO  DEBIT  AND  WHAT  TO  CREDIT. 

,    Transactions  or  trades  have  their  foundation  in  exchanges  of  value      In  everv  fr,J- 

m  which  you  are  interested,  value  (real  or  ^supposed)  gofs  from  your  presS;  Ic'd 


: 


•« 


J  INTRODUCTION. 

on  a  limited  or  on  an  extended  scale. 

EXILE.' 

IN  STOCK  BOOKS, 
m  PARTNERSHIP  BOOKS. 

««  ♦!.;««  i-a  -Opbtor  when  the  firm  eive  value  or  become  obligated  for  it. 
tl  Pen  Z  £|  i:  ?kXo:  wSen  it  prodies  value  or  renders  service  for  the 

firm. 


Or  Briefly. 

IN  STOCK  BOOKS. 


/  Debit  what  Costs  you  value, 

I  Credit  what  Produces  you  value. 

\  js  partnership  books. 

Debit  what  Costs  the  firm  value. 
Credit  what  Produces  the  firm  value. 

K«r.-The  .^r.  Knle  will  not  apply  fo.  ^ete^inln^^^openln^^^^^^^^ 


I 


SET  I,  DOUBLE  ENTRY. 


It  should  be  borne  in  mind  that  each  set  is  intended  to  represent  a  business  by  itself, 
independent  of  the  others ;  and  particular  attention  should  be  paid  to  the  opening  aiid 
closing  of  each,  to  discover  clearly  the  various  exhibits  made  of  capital  invested,  gains 
or  losses  in  business,  and  net  capital  or  insolvency  resulting  therefrom.  The  continu- 
ance of  each  set  for  one  month  is  intended  to  represent  a  year,  this  being  as  often  as 
books  are  closed  in  a  majority  of  houses,  although  some  close  every  six  months. 


est 


e2 


ii'jcCT. 


EXPLANATORY  REMAEKS,  SET  I.  > 

THE  DAY-BOOK.  '\>s 

The  Day-Book,  in  the  Italian  method,  is  a  plain  history  of  your  business  transactions, 
\^ritten  in  the  order  and  date  of  their  occurrence.  It  is  necessary  to  open  the  Day-Book 
by  giving  therein  a  statement  of  your  effects  at  the  commencement  of  business,  and  also 
of  what  debts  you  owe.  Afterward  record  in  detail  every  transaction  that  occurs  in  the 
course  of  business,  making  the  entry,  in  history  form,  in  as  few  words  as  possible,  and 
have  it  complete.     [See  Day-Book,  page  66  ]  , 


m 


THE  JOURNAL. 

The  Journal  is  used  for  arranging  under  Leger  titles  the  entries  that  have  been  pre- 
viously made  in  the  Day-Book,  and  for  affixing  to  each  Leger  title  the  correct  amount 
of  debit  or  credit,  which  is  called  journalizing.  This  is  done  that  the  accounts  may  with 
ease  be  collected  under  their  proper  heads  in  the  Leger. 

There  are  various  styles  of  Journal.  The  one  given  with  this  Set  has  two  dollar  and 
cent  columns,  one  for  the  debits  and  one  for  the  credits.  The  debtors  are  written  first, 
commencing  at  the  left-hand  marginal  line,  and  having  their  amounts  extended  into  the 
debit  column.  The  creditors  are  designated  by  commencing  at  a  short  distance  from 
the  left-hand  marginal  line,  by  being  prefixed  with  the  word  "  To,"  and  by  having  their 
amounts  extended  into  the  credit  column.     [See  Journal,  page  68.] 


THE  LEGER. 

The  Leger  may  be  appropriately  styled  the  grand  reservoir  of  accounts,  into  which 
all  records  in  the  other  books  flow  as  naturally  as  streams  to  the  ocean.  It  may  also  be 
styled  the  bimness-man  s  directory,  from  which  he  can  refer  to  the  details  contained  in 
the  books  of  original  entry,  with  the  same  ease  as  he  would  trace  out  the  residence  of  a 
friend  by  searching  the  street  an  1  number  in  the  City  Directory.  Its  principal  use  i8 
to  collect  under  one  head  all  sums  belonging  to  the  same  account.  Copying  from  tho 
Journal  to  the  Leger  is  called  Posting.  By  examining  the  Leger,  and  tracing  out  a  few 
postings,  you  Avill  see  that  there  are  spaces  ruled  for  particular  purposes— viz.  for  the 
date  the  name  of  balancing  entry  to  each  debit  or  credit,  the  folio  of  Journal,  and  the 
amount— and  that  the  form  and  mode  of  entry  in  a  Double  Entry  Leger  is  very  nearly 
similar  to  Single  Entry. 

Note  — «  By  "  whenever  uped  in  anv  of  the  books,  is  the  vr^fix  at  the  debtor,  although  (cencrally  placed  on  U»e  cwditor  lid*  of  Ui 
•ooount ;  and  "  To"  ia  tbei>r^  of  the  crediU>r,  although  generally  placed  on  the  debtor  side  of  an  account. 


BILLS  RECEIVABLE. 

Bills  Receivable  may  be  defined  as  follows :  ' 

Ist.  A  note  in  our  possession,  drawn  by  another  person,  payable  to  us  or  order. 

2d.  A  note  drawn  by  another  person,  purchased  by  us,  although  not  originally  made 

payable  to  us.  j       j         •      •  x 

3d.  A  draft  or  bill  of  exchange  drawn  by  one  party  on  a  second,  and  coming  into  our 

possession  as  a  third  party,  whether  accepted  or  not. 

4th.  Our  draft  on  another,  accepted  by  him  and  retained  in  our  possession. 

64 


BILLS  PAYABLE. 

Ist.  Our  note  payable  to  another  person.  *         - 

2d.  A  draft  or  bill  of  exchange  on  us,  and  accepted  by  us. 

3d.  Any  bond  or  obligation  in  contract,  with  our  signature,  and  requiring  payment 
of  us. 

Non  1. — Notes  are  raid  to  be  negotialle  when  they  are  drawn  in  such  form  as  to  be  trant/erdble  teom  one  party  to  another,  and 
may  be  collected  by  the  lagt  party  to  whom  tranpferrtd. 

Note  2. — The  above  definitions  of  Bills  Receivable  and  Bills  Payable  have  been  here  given,  to  enable  the  student  more  readily  to 
eomprehend  them  in  future  entries;  and  when  he  has  any  difficulty  in  determining  what  shouild  be  called  Bills  fAy.  or  B'^^#  B«c4  h* 
will  do  well  to  read  them  over. 


INSTRUCTIONS  FOR  WRITING  UP  SET  L 

Write  Set  I  on  loose  sheets  for  practice,  (prior  to  writing  Sets  II  and  m  in  the  blank 
books  which  accompany  this  treatise.)  Rule  sufficient  paper  for  the  purpose  after  the 
forms  shown,  and  then  copy  ofi*  all  the  entries  in  the  printed  Day-Book. 

Journalizing. — From  this  Day-Book,  so  copied,  make  out  your  Journal,  relying  as 
far  as  possible  upon  your  own  reasoning  powers,  in  the  application  of  the  general  rule 
for  journalizing  and  of  the  explanations  contained  on  the  preceding  pages.  When  you 
cannot  determine  the  correct  entry  yourself,  you  may  refer  to  the  printed  Journal,  and 
pattern  after  it,  but  in  every  such  case,  as  well  as  where  you  make  your  own  entry,  you 
should  carefully  read  over  the  elucidation  found  underneath  the  entry,  in  the  printed 
Journal ;  and  make  the  reason  of  each  debit  and  credit  perfectly  understood  before  you 
proceed  to  the  subsequent  entry.  I  cannot  too  firmly  impress  this  upon  your  mind,  for 
the  clear  comprehension  of  the  whole  science  of  Double  Entry  hinges,  as  it  were,  upon  a 
thorough  acquaintance  with  the  principles  of  journalizing ;  and  although  the  Journal  is 
now  often  laid  aside  in  actual  business,  yet  you  must  thoroughly  understand  how  to  use 
it,  in  order  to  be  able  to  do  without  it. 

Opening  the  Journal. — The  name  usually  given  to  an  individual  in  business  by 
himself  is  Stock,  and  his  books  are  called  Stock  books,  in  contradistinction  to  Partner- 
ship books :  you  may  therefore  consider  Stock  as  your  alias,  and  debit  and  credit  youp- 
aelf  under  that  title.  On  opening  the  Journal  at  the  commencement  of  business,  debit 
each  person  that  owes  you  for  the  amount  of  his  indebtedness,  and  each  species  of  pro- 
perty in  your  possession  for  its  value,  thus  expressing  their  obligation  to  you ;  and  credit 
Stock  (yourself)  for  the  whole  amount  of  your  effects  invested,  consisting  of  this 
indebtedness  of  persons  and  value  of  property.  Again,  debit  Stock  (yourself)  for  all 
your  indebtedness ;  and  credit  each  person  the  amount  you  owe  him,  and  each  property 
account  the  amount  of  your  obligation,  as  shown  under  that  head.  Your  own  name  can 
be  used  instead  of  Stock,  if  preferred. 

When  two  or  more  persons  are  associated  in  business,  their  books  are  called  Partner- 
ship books ;  for  the  method  of  opening  which,  see  Set  IV. 

For  instructions  on  posting,  see  page  73. 


Hon  1.— The  total  fbotin<?  of  the  Pay-Book  must  agree  with  that  of  the  Journal.    Also,  the  footings  of  tho  debit  and  credit  ools 
of  the  Journal  must  be  equal. 

In  practice,  these  additions  of  the  money  columns  in  Day-Book  and  Journal  are  frequently  omitted;  but  great  care  must  then  b* 
taken  to  ^ee  mat  each  Journal  entry  haa  an  equal  amount  of  debit  and  credit,  for  if  this  equilibrium  does  not  in  all  caaee  exist,  th« 
Leger  will  be  out  of  balance. 

Mots  2.— The  Index  to  Lc^er,  Set  I,  is  omitted,  but  the  pupil  can  make  one  Ibr  his  L^er,  as  he  posts.    Vcr  form,  see  page  35.      . 


65 


DAY-BOOK,  SET  I. 

Philadelphia,  January  \st,  1852. 


* 


Inventory  of  my  effects  on  commencing  business 
400  Yds.  Blk.  Eng.  Cloths         @  $3. 


460     "    Ass'd  " 


, ^  Do.  @$2.50 

720     "    Blk.     "  Cassimeres  @  $1.50 
385    "    Ass'd  "      Do.  @  $1- 

Cash  on  hand 


1,200.00 
1,150.00 
1,080.00 

385.00  3,815.00 
2,000.00 


—     2d 


5,815 


v/    Sold,  for  Cash,  to  Isaac  Bates 

1  100  Yds.  Ass'd  Eng.  Cloths         @  |3. 

160     "    Blk.       "     Cassimeres  @  $2. 


%/ 


300.00 
320.00 


3d 


00 


620  00 


>/ 


Sold  to  James  Melrose,  for  his  Note  @  30  days, 
190  Yds.  Ass'd  Eng.  Cassimeres  @  ?1.1d 


5th 


Sold  to  Philip  Somers  on  %  _  *„  -- 

175  Yds.  Blk.  Eng.  Cloths  @  ?3.75 


22040 


(( 


s/   Bought  of  Nathan  S.  Eaxon,  for  Cash, 

225  Yds.  Blue  Eng.  Cloths  @  $3.25 


656 


25 


V 


—    6th 


731 


25 


Bought  of  James  Walton,  on  my  Note  @  60  days, 
350  Yds.  Blk.  Fr.  Cloths         @  $4. 
195     "       "      "    Cassimeres  @  $2. 
200    "      "    Eng.    Do.         @  $1- 


1,400.00 
390.00 
200.00 


8th 


1,990 


00 


^   Bought  of  Elihu  Barnes  on  %,  ®  90  days, 

238  Yds.  Ass'd  Fr.  Cassimeres  @  $1.25 


9th 


Sold  to  Wm.  Alexander  250  Yds.  Blk.  Fr.  Cloths  @  $5.       - 
Received  in  Payment,  Cash,  45U.UU 

His  Note,  @  30  days,  for  the  Balance  800.00  l,i2oU.UU 


297 


1,250 


^^0 


00 


—    12th 


V 


/ 


Sold  to  Thomas  Carpenter  k  Co.  195  Yds.  Blk.  Fr.  Cassimeres  ©g^J^ 

Received  Cash  in  part  payment  loont^ 

The  remainder  sold  on  %  JLd»WO 


438 


75 


13th 


Paid  Cash  to  L.  W.  Camden,  for  repairs  of  Store 


50 


00 


♦  These  check-msrks  indicate  that  the  entries  haye  t««>  3onrn«li«ed  and  sh^  be  plwed  oppodte  etch 
atoTs^nMittatmurftowdtotheJournaL    Some  use  the  Journal  foUo  instead. 


12,069 


15 


v/ 


^/ 


DAY-BOOK,  SET  I. 

Philadelphia,  January  Vdth,  1852. 


Am't  Bro't  forward 
Sold  to  Martin  Pemberton,  on  %,  125  Yds.  Blue  Eng.  Cloths  @  $4. 

20th . 


%/ 


%/ 


Sold  to  Philip  Somers  230  Yds.  Ass'd  Eng.  Cloths  @  $3. 
Received  payment  in  part  by  Elihu  Barnes'  Note,  in  favor  of 

P.  Somers,  due  March  4th,  Am't  350.00 

The  Balance  sold  on  %  340  00 


22d 


12,069 
500 


690 


15 
00 

0) 


Bought  of  Elihu  Barnes  400  Yds.  Ass'd  Eng.  Cassimeres  @  $1.50 
Paid  m  part  by  his  Note,  favor  of  P.  Somers,  due  Mar.  4th       350.00 
The  Balance  purchased  @  30  days'  credit  250.00 


23d 


%/ 


%/ 


Bought  of  Ezra  Peterson  240  Yds.  Ass'd  Fr.  Cloths  @  $3. 
Paid  Cash  in  part  400.00 

Balance  on  %  .  320.*00      720.00 


600  00 


— 24th 

Received  Cash  of  Philip  Somers  on  % 

26th 


720  00 


>/ 


>/ 


Sold  to  Thomas  Carpenter  &  Co.  220  Yds.  Ass'd  Fr.  Cloths  @  $3.40 
Received  an  Order  of  Samuel  W.  Fairburn  on  me  400.00 

S"^?^  ^,  .  200100 

Balance  on  %       -      '  i48^qo 


27th 


y/ 


^ 


Appropriated  Cash  for  Personal  Expenses 

29th   — 

Sold  to  Thomas  Carpenter  &  Co. 
225  Yds.  Blk.  Eng.  Cloths 
•       130     "    Ass'd"        Do. 


656 


748 


25 


00 


60 


00 


u 


@  $3.75 
@  $3.00 

200     «    Blk.    "     Cassimeres  @  $1.25 

195     «    Ass'd  «       Do.  @  $1.16 

Received  in  payment.  Cash 

Their  Note  @  60  days 

Balance  on  %  @  30  days 


843.75 
390.00 
250.00 
226.20 


569.98 
569.98 
569.90  1,709.95 


1,709  95 


31st 


Paid  Ezra  Peterson  Cash  in  full  of  his  % 


« 


320 


Paid  Cash  for  Rent  of  Store  one  month 
"   Clerk  hire  "        " 

"   Gas  Bill  «<       « 


75.00 

75.00 

5.00 


Oi; 


155 


67 


1 


00 


18,228l36 


JOURNAL,  SET  L 

Philadelphia^  January  Isl^  1852. 


Dr. 


Cr. 


■t 


'^. 


L.F. 
*1 

1 

1 


1 
1 


Sundries 

Merchandise 

Cash 


1 
1 

2 
1 


1 
1 


1 
2 

1 
2 


1 
1 
1 


Dr. 


To  Stock 


1 


Ton  must  imagine  this  to  be  your  own  boBiness  and  bear  in  mind  that 
"Stock,"  as  here  used,  does  not  mean  goods  on  hand,  but  f«P«;«««°*f  JJ^ 
instead  of  your  own  name.  This  entry  means  simply  Sundries  />r.,  and  Sock 
(yourself )  CV.  Under  the  heading  "Sundries,"  the  several  items  which  make 
np  the  sundries  are  always  enumerated  :-in  this  case,  a«  you  see,  the Jtems 
are  MUse.  and  Cbslt,  each  of  which  is  considered  as  obhtrated.  or  «ndebted  to 
yon  for  its  value.  Tou  are  credited,  under  the  Utle  of  btock,  for  the  Ji-ffecta 
invested  by  you  in  business. 

See  remarks  on  the  opening  of  the  Journal,  page  60. 


3,815 
2,000 


2d 


Cash 


Dr.     '        To  Merchandise 


The  Cash  which  yon  get  in  this  trade  has  cost  you  Mdse,  to  the  Talue  of  8620, 
and  is  considoriHl  as  owing  you  for  its  cost.  The  Mdse.  which  >"!>  have  sold  has 
been  the  means  of  your  receiving  »620  in  Cash,  and  you  are  considered  indebted 
toitfor  the  value  produced;  therefore,      ,     .    ^   ^  .^.  j      j.  i„. 

Oish  is  Dr.  because  it  has  cost  value.— J/d«e.  is  O-.  because  it  has  pmdured Tn}w. 

irr  Be  careful  to  notice  the /«rm  of  each  entry,  and  the  mannir  of  extending 
theimounts  into  the  columns.  In  this  case  you  perceive  both  a  debit  and  credit 
extension  on  the  same  line.  Notice,  also,  that  several  items  of  the  tame  kind  of 
propertv  do  not  constitute  sundries  in  the  Journal,  but  the  term  Sumirus  U 
the  caption  when  there  are  several  Leycr  iiiiet. 


3d 


Bills  Receivable    Dr.  To  Merchandise 

By  this  transaction  a  NoU  is  received  for  Mdse.,  instead  of  Ca«b,  u  in  the 
preceding  entry.  ,  ,  j  •    a*.      • 

Bins  Lee.  Costsf  value,  and  is  Dr.—Mdse.  produces  t»1uc,  and  is  Vr. 

— 5th 


Philip  Somers       Dr.  To  Merchandise 

You  do  not  here  receive  immediate  payment  for  the  Mdse.  sold,  w  In  the  two 
nreceding  entries;  value  lias  m^t,  therefore,  been  given  for  Cash  or  Bills  Kec,  cr 
any  other  species  of  property,  and  no  pr,^.rly  arcfnint  is  /^.— But  value  has  gone 
from  your  possession  in  Mdse.  to  the  amount  of  S6&6.26,  for  the  use  and  b.MH.fit 
of  Ptkip  SomtTS,  without  his  remunerating  you  for  it:  therefore  he  lias  t.een 
the  occasion  of  an  outgo,  or  expense,  to  you ;  in  other  words,  has  corf  you.  value, 
and  is  Dr.    Mdse.  has  produced  value  in  his  indebtedness,  and  is  Vr. 

_^ i<  — 


Merchandise  Dr.  To  Cash 

This  and  the  two  fbUowing  entries  are  the  exact  counterparts  of  the  three 
'*'BSe"M(S!«)8ts  value  in  Cash:— Cash  produces  value  by  paying  fcr  the  Mdse. 

6th 


Merchandise         Dr.  To  Bills  Payable 

Mdse.  costs  value  in  your  Note :— BUla  Pay.  produces  valu«  by  paying  ftir  ths 
Mdse. 


8th     


. 


Merchandise  Dr.  To  Elihu  Barnes 

Mdse.  costs  value  in  your  indebtedness  to  Barnes:— E.  Barnes  produces  value 
by  furnishing  you  with  the  goods  without  pay. 

—     9th 


Dr.  To  l^^chandise 


Sundries 

Cash 

Bills  Receivable  ,    .  «^      ^  ..,v 

Sundries— to  vrit,  Cash  and  Bills  Rec.— have  eo«t  you  value  in  Mdse,  and  each 
is  Dr  for  its  cost.    Mdse.  has  produced  value  in  the  Cash  and  Note,  and  u  Cr. 

12th 


Sundries  Dr. 

Cash 

Thomas  Carpenter  &  Co. 


To  Merchandise 


Cash  and  T.  Carpenter  k  Co.  have  each  caused  you  to  part  with  Mdse.,  and 

have  thus  been  a  cost  to  you.  ^  ^.    ■   ^  v*  ^  ^ ^#n..»w>n*A*  A  Pa 

Mdse.  has  produced  you  value  In  Cash  and  the  indebtedness  of  Carpenter  *  Cft 


00 
00 


5,815,00 


620  00 


220 


656 


62000 


40 


25 


220 


731 


1,990 


25 


40 


656  25 


731 


297 


00 


50 


450 

800 


1,990 


25 


00 


00 
00 


297 


1,250 


50 


00 


300  00 
13875 


12,01915 


438 


75 


12,01915 


*  Omit  the  Leger  folio  untU  you  post  ,  ..     ,  ^.,„»  .#  m  nm.  n—.* 

t  Whenever,  as  in  this  case,  I  am  «P«»ki°R  o^n?  ^'i»*^  u  V?Ll 
Um  .loun  is  rekuy  singular,  although  the  word  "Bills,"  of  ItwOf,  *«  rlnraL 


or  "Bills  Pay,"  I  ui*  the  stngnlar  Terb>  becaw 


JOURNAL,  SET  I. 

Philadelphia^  January  13M,  1852.        Dr.         Cr. 


2 


L.F. 
2 

1 

2 
1 

1 
1 
2 


1 
1 

2 


1 
1 

3 

1 

2 


1 
3 
1 

9 


3 
1 


1 
1 
1 
2 


3 
1 

2 
1 


Am'ts  Bro't  forward 

Store  Expenses     Dr.  To  Cash 

store  Expenses  have  cost  you  value,  and  are  Dr. — Cash  has  produced  you 
value,  by  paying  for  repairs,  and  is  Cr. 


19th 


Martin  Pemberton  Dr.  To  Merchandise 

The  elucidation  of  the  entry  of  the  5th  inst.  will  fully  explain  this  transaction 


20th 


Sundries  Dr.  To  Merchandise 

Bills  Receivable 
Philip  Somers 

You  have  given  Mdse.  to  the  Talue  of  $690  for  Barnes'  Note  and  for  Somers* 
obligation ;  therefore.  Bills  Rec.  and  P.  Somers  are  Dr.  for  what  they  cost  you, 
and  Mdse.  is  Cr.  fbr  the  value  it  produces  you. 


22d 


Merchandise         Dr.  To  Sundries 

To  Bills  Receivable 
"  Elihu  Barnes 

Mdse.  costs  S6(K),  and  is  Dr.— Bills  Hoc.  and  E.  Barnes  produce  Talue;  Bills 
Kea  by  paying  for  part  of  the  goods,  Barnes  by  furnishing  part  without  pay. 


Merchandise 
To  Cash 


Dr. 


—     23d 


To  Sundries 


"  Ezra  Peterson 

Mdse.  costs  value. — Cash  and  E.  Peterson  produce  value. 

—    24th    


Cash  Dr.  To  Philip  Somers 

Cash  has  cost  you  the  former  indebtedness  of  Somers.— Sinners  has  produced 
value  by  paying  his  account. 


26th 


To  Merchandise 


Sundries  Dr. 

Samuel  W.  Fairburn 

Cash 

Thomas  Carpenter  &  Co. 

An  Order  is  a  request  in  writing  that  you  will  paT  a  certain  gum  for  another 
person.  Here  you  have  parted  with  Mdse.  to  the  vaJue  of  5?4O0,  at  the  request  of 
8.  W.  Fairburn;  thus  he  has  cost  you  that  much,  and  owes  you  for  it,  or  is  Dr. 

For  remainder  of  entry,  see  elucidation  of  12th  inst. 


12,019 

50 


500 


350 
340 


600  00 


15! 

00 


00 


00 
00 


12,019115 

50l00 


500  00 


690  00 


720 


656 


OOl 


25 


27th 


Personal  Expenses    Dr.         To  Cash 

Personal  Expenses  «)8t  value ;  Cash  produces  value  by  paying  these  expenses. 

29th    


Sundries  Dr. 

Cash 

Bills  Receivable 

Thomas  Carpenter  &  Co. 

Sundries  cost  value  in  Mdse. 


To  Merchandise 


31st 


Ezra  Peterson      Dr.  To  Cash 

Peterson  costs  you  $320  in  Cash.— Cash  produces  value  by  paying  the  debt 
((  . 


350,00 
250  00 

I 


400  OC 
320  00 


QbQ  2.5 


'48  OC 


400100 

2oo!oo 

148  00 


60  00 


569  98 
569198 
569199 


60  00 


1,709=95 


Store  Expenses    Dr.  To  Cash 

store  Expenses  oost  value  in  Cash. 


320 


155 


00 


00 


69 


18,228  85 


320OU 

I 
I 

I 

155'0O 


18,2288.1 


«L 


ISTAINED  PAGE(S) 


LEGER,  SET  I. 


Dr. 

Stock. 

Cr. 

Date. 

Balancing  Entry. 

J.F. 

Amount. 

Date. 

Balancing  Entry. 

J.F. 

1 
3 

-m 

Amount. 

1862. 
Jan, 

31 

To  BaL  [Net  Cap.) 

8 

I 

6,7  6  2 

10 

1862. 
Jan. 

1 

31 

By  Sundries 
"  Profit  &  Loss 

5,815 

937 

6;?52 

00 
10 

6,752 

10 

io 

1 

D 

r. 

Merchandise, 

Cr. 

1852. 

1862. 

Jan. 

1 

To  Stock 

1 

3,815 

00 

Jan. 

2 

By 

Cash 

620 

00 

5 

"    Cash 

1 

731 

25 

3 

Bills  Rec. 

220 

40 

6 

"  Bills  Pay. 

1 

1,990 

00| 

5 

P.  Somers 

656 

25 

8 

"   E.  Barnes 

1 

297 

50 

9 

Sundries 

1,250 

00 

22 

"   Sundries 

2 

600 

00 

12 

(( 

438 

75 

23 

U                (( 

2 

720 

00 

19 

M.  Pemberton 

2 

500 

00 

<( 

31 

S,1S3.7S 

"  Prof.dc  Loss  {gain) 

3 

1,2  0  2 

10 

20 
26 

Sundries 

2 
2 

690 

748 

00 
00 

y^ 

29 

« 

2 

1,709 

95 

j^^ 

6,83.1.35 

_^X 

t( 

31 

it 

Bal  (Inv't) 

3 

2,5  22 

50 

9,355 

85 

9,355 

85 

Dr. 

.-c 

Cash. 

Cr. 

1852. 

1852. 

Jan. 

1 

To  Stock 

1 

1 2,000 

00 

Jan. 

5 

By  Mdse. 

1 

731 

25 

2 

"  Mdse. 

1 

620 

00 

13 

"   Store  Expenses 

2 

50 

00 

9 

«       (( 

1 

;    450 

00 

23 

"   Mdse. 

2 

400 

00 

12 

«       « 

1 

300  00 

27 

"   Per.  Expenses 

2 

60 

00 

24 

"   P.  Somers 

2 

656  25 

31 

"   E.  Peterson 

2 

320 

00 

** 

26 

"   Mdse. 

2 

200!00 

« 

"   Store  Expenses 

2 

155 

00 

29 

"      /" 

2 

569  98 

1,7M.2S 

4,796.23 

1     1 

1 

31 

«   Bal.  {on  hand) 

8 

3,0  7  9 

98 

4,796  23' 

4,796 

23 

i               1 

Dr. 


Bills  Receivable. 


1852. 

Jan. 


3 
9 

20 
29 


r 


To  Mdse. 


1,940.33 


1 
1 

2 
2 


220 
800 
350 
569 


40 

00 

00 
98 


1,94038 


1862. 
Jan. 


(« 


22 

81 


Cr. 


By  Mdse. 

"  Bal.  {unpaid) 


70 


Dr. 


LEGER,  SET  I. 

Philip  Somers. 


1862. 

Jan.    5 
«     20 


To  Mdse. 


t9«.SS 


J.F. 
1 

2 


656 
340 


996 


25 
00 


25 


1S62. 
Jan. 


<( 


24 

31 


Dr. 


Bills  Payable. 


1852. 

Jan. 


31 


To  Bal.  {unpaid) 


3 


1,990|00 


1852. 
Jan. 


By  Mdse. 


± 


T 


Dr. 


Elihu  Barnes. 


1852. 

Jan. 


31 


To  Bal.  {due  Mm) 


547 


547 


50 


50 


1852. 
Jan. 


8 
22 


B^Bdse. 


547.  so 


Dr. 


.  k 


Thomas  Carpenter  ^  Co. 


1852. 

Jan. 
(( 


12 
26 
29 


To  Mdse. 

«        u 


Me.74 


1 

2 
2 


138 
148 
569 


856 


75 
00 
99 


74 


1852. 
Jan. 


31 


By  Bal.  {due  me) 


Dr. 


Store  Expenses. 


1852. 

Jan. 

13 

(( 

31 

To  Cash 


aH.oo 


2 
2 


50 
155 


205 


00 
00 


00 


18)2. 
Jan. 


31 


By  Prof.  &  Loss  (loss) 


Dr. 


Martin  Pemberton. 


1862. 

Jan. 


19 


To  Mdse. 


By  Bal.  {due  me) 


Cr. 


:Bf  Cash 

«♦    Bal.  {due  me^^  8 


.F. 

2 


656 

340 


25 

00 


996  25 


Cr. 


1 

2 


3 


1,99000 


%. 


29750 


250 


547 


00 
50 


Cr. 


856 


856 


74 


74 


Cr. 


205 


205 


00 

00 


Cf 


500|00 


71 


Dr. 


LEGER,  SET  I. 

Ezra  Peterson. 


Cr. 


1862. 

Jan. 


31 


To  Cash 


320 


00 


1852. 
Jan. 


23 


By  Mdse. 


JOr. 


Samuel  JV.  Fairburn. 


Cr. 


1852. 

Jan. 


26 


To  Mdse. 


400,00 


1852. 

Jan. 


1  I 


3  1 


J?y  JBaL  {due  me) 


Personal  Expenses. 


1852. 

Jan. 


27 


To  Cash 


1852. 

Jan. 


31 


ByProf.&Losi  (loss) 


Dr. 


Profit  8f  Loss. 


Cr. 


1852. 

Jan. 
u 


31 


To  Store  Expenses 
"  Per.         " 

MS.OO 

"   Stock  {net  gain) 


Dr. 


Balance. 


Cr. 


1852. 

Jan. 

u 

u 
a 
a 
«c 
u 


31 

(( 

(( 
u 
u 
« 


To  Mdse. 
Cash 

Bills  Kec. 
P.  Somers 
T.Carpenter&Co 
M.  Pemberton 
S.  W.  Fairburn 

9,3S9.60 


1 
1 
1 

2 
2 
2 
3 


2,522150 
3,079j98 
1,590|38 
340,00 
85674 
500.00 
400  00 


9,289  60 


72 


ON  POSTING. 

Having  journalized  all  the  transactions  recorded  in  th^  Daj-Book,  the  next  step  is 
to  post  them,  t.  e.  transfer  them  from  the  Journal  to  the  Leger.  This  process  I  will 
endeavor  to  explain  to  you. 

Look  at  the  first  entry  in  your  Journal,  "Sundries  Dr.  To  Stock,"  and  you  will 
perceive  that  Stock  is  Cr.  $5,815.00,  which  is  now  to  be  transferred  to  the  account  of 

Stock  on  the  Leger.     After  opening  this  account  thus,  "  Dr. Stock Cr.,"  as 

shown  in  the  Leger  here  given,  place  underneath  this  heading,  on  the  credit  side'  the 
date  of  Journal  entry,  what  Stock  is  Cr.  by,  the  Journal  folio  from  which  the  post  is 
made,  and  the  amount.  Having  done  this,  you  post-mark  the  entry ;  i.  e.  place,  in  the 
left  hand  margin  of  the  Journal,  the  folio  of  the  Leger  to  which  it  is  posted.  This 
completes  the  first  post.     Next  comes  the  Drs.  of  this  entry,  of  which  Merchandise  is 

the  first.     Open  an  account  for  it  thus,  "  Dr. Merchandise Cr.,"  below  Stock 

on  the  same  folio,  leaving  enough  lines  intervening  between  the  two  to  receive  all  the 
posts  which  are  to  be  made  to  the  Stock  account.  Underneath  this  second  heading,  on 
the  debit  side,  place  the  date,  description.  Journal  folio,  and  amount,  as  directecf 'for 
Stock,  and  lastly  post-mark  it  in  the  Journal.  Next  take  the  debit  to  Cash :  open  an 
account  for  Cash  in  the  Leger,  and  post  as  directed  for  Merchandise.  The  vihole  of 
the  first  entry  in  the  Journal  is  now  posted.  '  ' 

The  second  entry  requires  two  posts,  one  to  the  debit  of  Cash,  and  one  to  the  credit 
of  Merchandise,  which  two  accounts  you  have  already  opened  on  the  Leger.  This 
entry  will  also  require  two  post-marks,  the  upper  o;ie  for  the  debit,  and  thelower  one 
for  the  credit. 

Proceed  in  this  manner  regularly,  opening  new  accounts  as  you  come  to  them,  until 
the  whole  Journal  is  posted,  when  you  will  be  ready  to  take  a  Trial  Balance ;  for  an 
explanation  of  which  see  the  following. 


TRIAL  BALANCE,  LEGER,  SET  L 


L.F 


1 
1 
1 
1 

2 
2 
2 
2 
2 
2 
3 
3 


Leger  Titles. 


Stock 

Merchandise 

Cash         ... 

Bills  Receivable    - 
Philip  Somers   - 
Bills  Payable 
Elihu  Barnes    - 
Thomas  Carpenter  &  Co. 
Store  Expenses 
Martin  Pemberton 
Samuel  W.  Fairburn 
Personal  Expenses 


Dr.   Amount  Columns.   Cr. 


8,153  75 

4,796  23 

1,940  38 

996  25 


85674 
205  00 
500  00 
400  00 
60  00 


17,908  35 


5,815 
6,833 
1,716 

350 

1,990 
547 


17,908 


00 
35 
25 
00 
25 
00 
50 


Dr.  Difference  Columns.  Cr. 


35 


1,320  40 

3,079!98 

1,590|38 

34000 


856 
205 


74 

00 


500  00 

400iOO 

60  00 


8,352 


50 


5,815 


00 


1,990,00 
547.50 


8,352;50 

The  Trial  Balance  of  the  Leger  is  made  when  the  Journal  is  all  posted  to  it,  to 
ascertain  whether  equal  amounts  of  debits  and  credits  have  been  posted,  or  if  the  whole 
Leger  balances. 

It  is  made  in  the  following  manner :— First,  add  up  the  debit  and  credit  side  of  each 
account  in  the  Leger,  and  place  their  amounts  to  the  left  of  the  dollar  column,  with  a 
pencil,  as  shown  by  the  small  figures  in  the  Leger  given.  Then,  having  headed  the  Trial 
Balance,  write  down  in  it  the  titles  of  the  several  Leger  accounts,  commencing  with 
Stock ;  and  place  opposite  each  title,  in  the  amount  columns,  the  debit  and  credit  foot- 
mgs,  as  set  down  with  a  pencil  in  the  Leger :  also,  place  in  the  difference  columns  the 
K  73 


.*_. 


/" 


TRIAL  BALANCE  {continued). 

differences  between  these  debit  and  credit  footings.  Accounts  that  balance  in  the  Leger 
need  not  be  brought  in.    The  left  hand  marginal  column  is  for  the  Leger  folio. 

Add  up  the  sef eral  columns  of  the  Trial  Balance.  Now,  since  for  every  debit  made 
upfntheYeger  there  has  been  an  equal  amount  of  credit  and  for  every  credit  an  equal 
amount  of  dibit ;  and  since  the  amount  columns  of  the  Trial  Balance  e^'brace  every 
dXt  and  credit  ipon  the  Leger,  (except  those  accounts  whose  deoits  and  credits  are 
eauaH  therefore,  the  debit  and  credit  totals  of  these  amount  columns  must  be  equJ. 
And  if  the  tils'  of  the  amount  columns  are  equal,  then  the  totals  of  the  difference 
Tolumns  must  also  be  equal.   If  this  equilibrium  does  not  exist,  there  .8  an  error,  which 

"t  Jrill  Ballnce  may  be  taken  with  the  amount  columns  only  or  with  the  difference 
columns  only.  The  latter  is  the  usual  mode  in  business;  and  in  subsequent  Trial 
BaCces  in  this  work,  the  differences  of  the  Leger  accounts  will  only  be  used.  In  a 
?eal  bus  nesrihe  Trial  Balance  may  be  taken  monthly,  and  *AouM  bo  taken  as  often 
as  once  in  three  months,  even  though  the  books  are  closed  but  once  a  year. 
You  will  next  find  use  for  the  Inventory. 


INVENTORY-BOOK,  OR  ACCOUNT-STOCK-BOOK,  SET  L 


'  Inventory  of  Merchandise  remaining  unsold  Jan.  31,  1852 : 
100  yds.  Blk.  Fr.  Cloths,  @  *4. 


20 
100 
560 
400 
238 


u 
u 
a 
u 


Ass'd "       do.  @  S3. 

Eng.  Blue   do.  @  $3.25 

Blk.  Eng.  Cassimeres,  @  $1.50 
Ass'd  "  do.  @  $1.50 

Fr.        do.  @  $1.25 


(( 


This  is  a  small  book  used  to  take  down  the  Inventory  of  f  J^^^^'l"^^^^^^^ 
*nv  time  ffenerally  called  by  merchants  "taking  an  account  of  stock,  ^stock,  as  here 
^IdZSS  on  hand,  and  not  your  own  name  in  business  as  ^t  ^oes  in  the 
J^i^S  and  Leier.  This  Inventory,  or  account  of  stock,  is  taken  by  ac  ual  observa- 
Srand  esti^^^^^^^^^  the  goods  or  other  property  remaining  on  hand,  either  at  cos 
Ir^l  nr  at  threstim^  value;  and  is  usually  made  out  once  a  year  as  most  houses 
?Z  thefr  Wkryeriy;  but  houses  that  close  their  books  semi-yearly,  must  take  an 
iS  stock  o'nceTsk  months,  as  the  property  on  hand  is  always  made  use  of  m 

"^"inthtsit'jon  will  go  over  the  Day-Book,  carefully  selecting  the  goods  of  each 
^.'  A  InxlhKJiZ  them  to  those  of  the  same  kind  on  hand  at  commencing  busmess, 

here^^^^^^^^^^^^  This  test  of  correctness  would  not  generally  be  practicable  m 

businSr  owing  to  the  diversity  and  number  of  items  bought  and  sold.  ,    .     ^     .^ 

X4ng  Z^  described  how  the  Inventory  is  taken,  I  will  now  explain  what  use  18 
made  of  it  in  closing  the  Leger. 

ON  CLOSING  THE  LEGER. 
Pr^ryaratorv  Steps.     After  making  a  Trial  Balance,  open  a  Profit  and  Loss  account, 
funksfprer^^^^  and  a  Balance  account.     Next  bring  in  the  property  on 

CnrSace  t^  cr:dU  of  each  speculatingt  property  account,  in  the  \eger,  the 
aTounlof  property  belonging  to  that  account,  as  shown  by  the  ^f  I?ntory-Book  En  er 
rr^reS  giving  the  dfte  on  which  you  close,  and  saying  "  By  Balance  {Inv  t,\ 


ON  CLOSING  THE  LEGER  (continued). 

to  show  that  it  is  to  be  transferred  to  the  Balance  account ;  and  make  the  opposite 
entry  immediately  on  the  debit  side  of  Balance  account,  in  black  ink,  saying  "  To 
Mdse.,"  or  "  To"  whatever  property  account  you  have  just  made  the  red  ink  entry. 
In  the  column  usually  occupied  by  Journal  folios,  place  the  Leger  folio  of  the  account 
indicated  by  the  entry. 

This  entry  of  the  property  unsold  is  sometimes  made  through  the  Day-Book  and 
Journal,  but  considering  this  useless  labor,  I  have  adopted  the  shorter  and  simpler 
method  of  placing  it  directly  upon  the  Leger. 

All  speculating  property  accounts  must  have  the  balances  of  property  unsold  credited 
to  them  in  this  manner,  before  they  are  closed.  In  this  set  there  is  only  one  such 
account — Merchandise ;  and  the  whole  of  the  goods  unsold  must  be  credited  to  it. 

The  Leger  is  now  ready  for  closing.  Leave  Stock  open  for  the  present.  Commence 
at  the  first  account  after  Stock,  and  close  each  account  which  shows  a  gain  or  loss  into 
Profit  and  Loss,  and  each  account  which  shows  a  balance  that  will  add  either  to  your 
assets  or  liabilities  into  Balance.  It  will  suffice  my  present  purpose  to  state,  in 
short,  that  Merchandise,  Bank  Stock,  and  all  other  speculating  property  accounts — 
Premium,  Interest,  and  Discount — Personal  Expenses — Store  Expenses,  and  all  similar 
accounts,  show  gains  and  losses,  and  are  closed  into  Profit  and  Loss :  whUe  Cash — 
Bills  Receivable — Bills  Payable — Bank — accounts  with  individuals,  and  the  like,  show 
assets  and  liabilities,  and  are  closed  into  Balance. 

To  close  an  account,  find  the  difference  between  the  debit  and  credit  side  of  it  by 
subtraction,  and  enter  this  diff*erence  on  the  smaller  side  of  said  account  in  red  ink, 
saying  "To"  or  "By"  that  account  into  which  you  wish  to  close  it;  and  then  enter 
the  same  amount  in  black  ink  on  the  opposite  side  of  the  account  into  which  you  close 
it,  saying  "  To"  or  "  By"  the  account  you  are  closing.  Then  rule  the  account  with  red 
ink,  and  add  it  up  with  black  ink,  after  the  pattern  given  you,  and  the  closure  is  complete. 

Make  all  closing  and  transfer  entries  and  all  rulings  in  the  Leger  in  red  ink.  Italics 
in  the  Legers  given  in  this  work  indicate  red  ink.  Continue  thus  to  close  the  accounts 
successively,  until  only  Stock,  Profit  and  Loss,  and  Balance  remain  open. 

In  order  to  prove  that  your  work  thus  far  has  been  done  correctly,  you  may  now 
take  another  test,  which  I  shall  call  a  Second  Trial  Balance. 


SECOND  TRIAL  BALANCE 

, LEGEB 

.,  SET  L 

L.F. 

Leger  Titles. 

Dr.  Amount  Columns.  Cr. 

Dr.  Difference  Columns.  Cr. 

1 

3 
3 

Stock       -         .         -         - 

Profit  &  Loss 

Balance   -        -        -        - 

A 

265 
9,289 

00 
60 

60 

5,815 
1,202 
2,537 

00 
10 
50 

60 

6,752 10 

5,815 
937 

00 
10 

9,554 

9,554 

6,75210 

6,752 

10 

This  Second  Trial  Balance,  as  you  see,  consists  of  the  three  accounts  now  open,  and 
its  debit  and  credit  totals  must  be  equal,  since,  throughout  the  closure  of  the  Leger, 
every  debit  has  had  its  credit,  and  every  credit  its  debit. 

In  real  business,  neither  the  Balance  account  is  used,  nor  the  Second  Trial  Balance, 
as  here  shown.     But  of  this  you  will  be  informed  in  Set  IV. 


Finally. — After  proving  your  work  thus  far,  close  Profit  and  Loss  into  Stock,  thus 
transferring  your  net  gains  or  losses  in  business  to  the  account  which  is  your  own 
representative.  The  difference  between  the  two  sides  of  the  Stock  account  will  now 
show  your  net  capital  or  your  net  insolvency,  which  you  must  close  into  Balance, 
making  the  last  entry  in  Balance  account  also  in  red  ink,  as  it  becomes  the  closing 
entry  to  that  account.     This  completes  the  closing  of  the  Leger. 


.>m:^Jfe>^ 


:^7^.- 


STATEMENTS,  SET  I. 

If  you  have  carefully  considered  what  is  emhraced  in  the  foregoing  pages,  you  will 
have  acquired,  I  think,  a  pretty  clear  idea  of  the  business  represented  in  Set  I;  but,  to 
make  it  still  plainer,  and  also  to  give  you  more  general  ideas  of  what  is  embodied  m  the 
Leger,  I  will  now  show  you  some  abstracts  from  it,  in  the  form  of  statements,  (worded 
as  if  drawn  off  by  yourself  from  your  own  Leger,)  by  which  your  capital  at  commencing 
business,  your  gains  during  business,  and  your  net  capital  at  closing,  will  be  clearly 
represented. _^ 


Statement  Ist,  showing  Net  Gains. 

I  have  (jained,  as  shown  on  the  credit  side  of  Profit  ^  Loss  account, 

By  trading  in  Merchandise 

I  have  lost,  as  shown  on  the  debit  side  of  Profit  ^  Loss  account, 

By  payment  of  Store  Expenses ?-05.00 

«         "         "    Personal  do. 

Deduct  total  losses        -        -        -        * 

My  net  gains  in  the  business  are 
Which  is  the  excess  of  credit  in  Profit  &  Loss  account. 


$1,202.10 


60.00 


265.00 


-    $937,10 


Statement  2d,  showing  Net  Capital  at  closing. 

My  available  means,  called  "Resources,"  or  "Assets,"  are  shown 
debit  side  of  Balance  account,  and  consist  of 

Merchandise  remaining  unsold  to  the  am't  of  - 

Cash  on  hand     -         -         -         -         .         .         -         - 

Bills  Receivable,  or  other  persons'  Notes  held  by  me 

The  indebtedness  of  P.  Somers 

"  "  "  T.  Carpenter  &  Co.  -        .        - 

«  "  "  M.  Pemberton     -         -        -        - 

«  "  "  S.  W.  Fairburn       -        -        -        - 

Total  resources  or  assets 
Uj  indebtedness,  called  "Liabilities,"  is  shown  upon  the  credit 
side  of  Balance  account,  and  consists  of 

Bills  Payable,  outstanding  against  me      -        -         -         - 
Amount  due  E.  Barnes       -        •        -        -        - 

Deduct  total  liabilities      -        -        -        - 

My  net  capital,  or  present  worth,  is     -         -         -        ^- 
Which  is  the  excess  of  debit  in  the  Balance  account. 


upon  the 


$2,522.50 
3,079.98 
1,590.38 
340.00 
856.74 
500.00 
400.00 

$9,289.60 


,990.00 
547.50 


M  I 

2,537.50 
$6,752.10 


f. 


Statement  M,  proving  Statements  1st  and  2d,  ^ 

The  amount  of  Effects  invested  by  me  at  the  commencement  of  business  ^  - 

shown  by  the  credit  side  of  Stock  account,  is **^  qq?  ?a 

The  net  gains,  shown  on  credit  side  of  Stock,  and  by  Statement  1st,  are         937.10 

Thus,  the  net  capital  or  present  worth  (as  by  Statement  2d)  is  -        -  $6,752.10 
Which  is  seen  also  in  Stock  account. 


NoT«.-If  any  additional  inTestment  had  been  mad*  by  you  during  the.burineBS,  it  would  flud  it«  place  alao  upon  the  crtdU  ride  of 

^eS^  of  Stock  account  contain*  the  amount  of  yonr  indebtedness  at  commendnf ,  any  mim.  withdrawn  by  you  during  the 
buainess,  and  your  net  losses  in  business :  but,  in  Set  I,  nothing  ban  occurred  requiring  a  debit  to  it 

16 


STATEMENTS  {continuet^.' 

Therefore : — 
In  a  gaining  business,  commencing  with  net  capital, 

To  find  your  present  worth,  or  net  capital  at  closing : 

Ist.  Add  the  net  gains  in  business  to  the  net  capital  at  starting. 
2d.  Deduct  the  total  liabilities  from  the  total  assets. 

To  find  your  net  gains  in  business  : 

Ist.  Deduct  the  total  losses  from  the  total  gains. 

2d.    Deduct  the  net  capital  at  starting  from  the  present  worth. 


QUESTIONS  FOR  REVIEW,  SET  L 

The  following  questions  are  intended  as  a  review  of  all  that  has  been  written  thus  far  on  Double 
Entry.  Answers  to  all  questions  asked  can  be  found  on  some  of  the  foregoing  pages,  and  teachers 
will  do  well  to  require  their  pupils  to  search  them  out  and  learn  them. 

What  is  Book-Keeping  by  Double  Entry  ?     How  does  Double  Entry  Book-Keepiug  differ  from 
Single  Entry?  « 

What  do  accounts  with  persons  represent  ? 

What  do  accounts  with  the  different  species  of  property  represent  ? 

What  do  accounts  with  the  various  branches  of  your  gains  and  losses  represent  ? 

What  is  the  distinguishing  feature  of  Double  Entry? 

Is  an  equilibrium  in  the  number  of  debits  and  credits  required?     WhsU;  then  ? 

Why  is  the  old  Italian  metlwd  of  Book-Keeping  adopted  in  the  first  three  Sets  of  Double  Entry? 

What  are  the  main  books  of  entry  in  the  Italian  method  ?  * 

Define  debtor.     Define  creditor. 

]n  what  have  transactions  or  trades  their  foundations  ? 

Repeat  the  general  nde  for  journalizing  transactions.     Repeat  it  briefly. 

Docs  this  rule  apply  for  determiniug  the  opening  Journal  entry  of  individual  hooka  ? 

Docs  it  apply  to  the  opening  entry  of  partnership  books  ? 

What  is  each  Set  intended  to  represent  ? 

Why  should  particular  attention  be  paid  to  the  opening  and  closing  of  each  ? 

What  is  the  continuance  of  each  Set  for  one  month  intended  to  represent  ? 

How  often  are  books  closed  in  a  majority  of  houses  ? 

Describe  the  Day-Book  in  the  Italian  method  of  Book-Keeping. 

For  what  is  the  Journal  used  ?     Why  is  this  done  ? 

Describe  the  Journal  given  with  this  Set.     In  making  entries  therein,  how  do  you  distingoiflh 
between  debtors  and  creditors  ? 

What  may  the  Leger  be  styled  ?     What  is  its  principal  use  ? 

Of  what  is  "  By"  the  prefix  ?     On  which  side  of  an  account  is  it  generally  placed  ? 

Of  what  is  "  To"  the  prefix  ?     On  which  side  of  an  account  is  it  generally  placed  ? 

Define  Bills  Receivable.     Define  Bills  Payable.     When  are  notes  said  to  be  nogotiable  ? 

What  name  is  given  to  an  individual  in  business  by  himself?     What  are  his  books  called  ? 

Explain  the  opening  of  the  Journal  for  Stock  books. 

What  would  you  debit,  and  what  credit  in  journalizing  each  of  the  following  transactions,  and  for 
what  reasons  ? 

1st,  Sale  of  Mdse.  for  cash. — ^2d,  Sale  of  Mdse.  for  another  person's  note. — 3d,  Sale  of  Mdae. 
on  account. — 4th,  Purchase  of  Mdse.  for  cash. — 5th,  Purchase  of  Mdse.  for  your  own  note. — 
6th,  Purchase  of  Mdse.  on  account. — 7th,  Sale  of  Mdse.  for  cash  and  another  person's  note.-^ 
8th,  Sale  of  Mdse.  for  cash  and  on  account. — ^9th,  Payment  of  expenses  for  the  store  in  cash. — 
10th,  Sale  of  Mdse.  for  another  person's  note  and  on  account. — 11th,  Purchase  of  Mdse.  for 
another  person's  note  and  on  account. — 12th,  Purchase  of  Mdse.  for  cash  and  on  accoHnt. — 
13th,  Receipt  of  cash  on  account. — 14th,  Sale  of  Mdse.  for  another  person's  order  on  you,  for 
cash  and  on  account. — 15th,  Payment  of  cash  for  personal  expenses. — 16th,  Sale  ^f  Mdse.  for 
cAsh,  for  another  person's  note  and  on  account. — 17th,  Payment  of  an  account  m  cash. — ISthj 
Payment  of  rent^  clerk  hire  and  gas  bill  in  cash. 

77 


QUESTIONS  FOR  REVIEW  {continued). 


n 


What  is  the  next  thing  to  be  done  after  journalizing  ?     What  is  meant  by  posting  ? 

maJ  is  lant  bypost^-marking  ?     How  do  you  post-mark  when  there  is  both  a  debit  and  a  credit 

on  the  same  line  in  the  Journal  ?  ,  .  ^  ?  ^ 

What  test  of  the  Leger  is  taken  when  the  posting  is  completed  r 

Describe  the  process  of  taking  a  Trial  Balance,  and  its  use.        ,    ^     „        a      •    -w  i,««  •» 
irr"n^business  to  takf  it  with  the  difference  columns  only?     How  often  is  it  taken. 
What  is  the  Inventory-Book  ?     How  is  the  Inventory  or  Account  of  Stock  taken  I 
What  accounts  do  you  open  preparatory  to  closmg  the  Leger  C 
What  is  the  next  step  after  opening  these  accounts  ? 

What  class  of  accounts  have  the  balances  of  property  unsold  credited  to  them  ? 
Define  speculating  property  accounts  ? 

In  commencing  to  close  the  Leger,  what  account  do  you  leave  open  { 
What  class  of  accounts  are  closed  into  Profit  &  Loss  ?     What  class  into  Balance  ? 
^dosing  the  Leger,  is  the  first  entry  made  in  the  account  you  are  closing,  or  in  the  account  into 

which  you  are  closing  it  ?  ,      j  •  i  9 

On  which  side  of  the  account  and  in  what  colored  ink  r 
Where  is  the  opposite  entry  made,  and  in  what  colored  mk  / 
In  what  cases  is  red  ink  used  in  the  Leger  ?     How  indicated  in  this  work  ? 
A\rhen  is  the  Second  Trial  Balance  taken,  and  of  what  accounts  does  it  consist  r 
Ts  the  Second  Trial  Balance  used  in  a  real  business  ?  ,  m  .  -.  -n  1         9 

mich  is  the  first  account  closed  after  the  taking  of  the  Second  Tnal  Balance  ? 
™the  Profit  &  Loss  account  has  been  closed  into  Stock  what  does  the  difference  between  the 

two  sides  of  the  Stock  account  show,  and  how  IS  It  closed  ? 
In  what  account,  and  on  which  side,  do  you  ascertain  your  gams  m  business? 
Tn  what  account  and  on  which  side,  do  you  ascertain  your  losses  in  business  r  t.    «*  t, 

Whatt  s^wf  C^^^^  total  lossei  from  total  ^ains?     How  is  this  shown  in  the  Profit  & 

maTa^'yTr  available  means  at  closing  styled  and  where  are  they  found? 

What  is  vour  indebtedness  at  closing  styled,  and  where  is  it  tound  f  v  «^  •«  ♦!..  -R-Un^P 

What  is  sCwn  by  deducting  total  liabilities  from  total  assets?     How  is  this  shown  m  the  BaUnce 

Where  do  yon  find  the  amount  of  your  effects  invested  ?  .      rf       \? 

Where  do  you  find  the  amount  of  your  indebtedness  at  commencing  (if  any)  ? 

n^^\oh  fide  of  Stock  account  are  your  net  gains  shown  ?     On  which  side  your  net  losses  ? 

Whit  Ts  st^n  by"^^^^^^        net'gains  in^usiness  to  the  effect,  invested  at  commencing? 

Where  is  this  seen  ?  „     ,  ,         o     xr  i.      •     9 

Wliat  are  your  total  gains  in  Set  I?*     Total  losses?     ^et  ^ms? 
What  are  your  total  resources  or  assets  at  closing  Set  I  ?     Total  liabilities  r 
What  is  your  net  capital  or  present  worth  ?  *      •„„  ? 

What  is  the  amount  of  your  effects  invested  added  to  your  net  gains  T 
Klint  bS^^  commencing  with  net  capital,  by  what  two  methods  can  you  ascertain  your 

prSent  worth  ?     By  what  two  methods,  your  net  gams  ( 

♦  The  pupU  may  have  his  Leger  before  him  in  answering  this  and  the  following  quesUoni. 


SET  II,  DOUBLE  ENTRY. 


You  can  write  up  this  Set  in  the  blank  books  which  accompany  this  treatise.  You 
"will  perceive  that  no  Journal  or  Leger  is  here  given,  because  I  wish  you  now  to  rely 
upon  your  own  reasoning  powers,  aided  by  such  elucidations  as  are  necessary,  for  apply- 
ing the  principles  already  learned. 

Copy  the  Day-Book ;  then  journalize  it,  referring  to  the  elucidations  of  the  different 
entries  for  any  suggestions  required.  Having  journalized,  post  from  your  Journal  into 
the  Leger,  and  take  a  Trial  Balance,  which,  if  correct,  will  agree  in  every  respect  with 
the  one  given  on  page  83.  If  it  does  not  agree,  there  is  an  error,  which  must  be  sought 
and  corrected,  after  the  manner  described  on  page  111.  When  the  Trial  Balance  is 
right,  proceed  to  close  the  Leger  in  the  same  manner  as  described  for  Set  I,  taking  a 
second  Trial  Balance  when  you  come  to  it,  as  a  test  of  the  closures  thus  far. 

You  can  make  out,  from  your  Leger,  statements  of  the  net  gains  and  net  capital  at 
closing,  and  compare  them  with  the  statements  on  pages  83  and  84,  which  will  be  a  still 
further  check  upon  the  correctness  of  your  work. 

Set  I  was  a  gaining  business,  and  closed  with  net  capital ;  but  this  is  a  losing  business, 
and  closes  with  net  insolvency.  By  comparing  carefully  the  two  Sets,  and  the  state- 
ments drawn  from  them,  you  will  acquire  clear  and  definite  ideas  of  both  prosperous  and 
adverse  business. 

NoiE.— The  Key  in  deslpnecl  scldy  for  the  Utuiher,  and  the  scholar  should  tn  na  ease  bo  permitted  to  use  it;  or  if  at  all,  merelT  to 
eompare  his  books  after  the  t«acher  has  pronounced  them  correct.  He  should  hunt  his  own  mUlakUf  as  this  is  most  excellent  practi^ 
for  hiuL 


79 


^, 


78 


»iS* 


DAT-BOOK,  SET  11. 

Philadelphia,  February  2rf,  1852. 


^ 


I  commence  Business  with  the  following  Effects :  ^  -^r  aa 

Cash  on  hand  1.J25.00 

Merchandise,  amounting  pr.  Invoice,  to  vivi^t^k 
50  Shares  Reading  Rail-Road  Stock  @  $25    (p-  -i-  t»o.)  I,2o0.00 

Sundry  Notes  which  I  hold  against  others  onn  nn 

Joseph  B.  Lownes  owes  me  on  %  «??*? a 

V.  C.  Burrell  &  Co.  owe  "    "    "  ^^^'^^ 


s/    I  owe  as  follows : 

On  Notes  held  hy  sundry  persons  against  me 
To  Charles  T.  Mayland  on  % 

"   Burgess  &  Pinkerton  " 

"   Levi  Williams  &  Co. 

"   Evans,  Peters  &  Co. 


(( 


7,000.00 
500.00 

1,240.56 
960.44 

1,150.50 


12,041 60 


Making  my  Net  Capital  §1,190. 
2d      


Insured  Mdse.  in  the  American  Fire  Ins.  Co.  to  the  Am't  of  $6,000, 
@  r%Prem.,  for  which  I  have  paid  Cash 


10,851 


50 


(( 


Sold  to  V.  C.  Burrell  &  Co.,  @  6  mos., 

5  Cases,  60  Prs.  Men's  Stout  Boots  @  $1.75 

2     "24    "       "       Kip  "       "     2.00 

2      «       24    "       "       Calf  Pegged"       "     2.50 
^     «      12    "       "         "    Sewed  "       "     3.50 


105.00 
48.00 
60.00 
42.00 


3d 


y/    Sold  to  Walter  Stockton  &  Co. 

3  Cases,  180  Prs.  Boys*  Stout  Brogans  @lb9 
'     2     "      120    "       "      Kip        "         "  80 
2      "       120    "     Men's  Goat  Nullifiers  "  80 
2     «      24      "       "      Stitched  Boots  "  $6 

Rec'd.  in  Payment 

My  Note,  Philip  Beldon's  favor,  now  due,  for 

Cash  for  Balance 


135.00 
96.00 
96.00 

144.00 


320.00 
151.^ 


4th 


Accepted  Burgess  &  Pinkerton's  Draft  on  me,  @  30  days'  sight,  favor 
Wm.  G.  Ashton,  for 


7th 


v^ 


Bought  of  Charles  T.  Mayland, 

Mdse.,  amounting  pr.  Invoice,  to 
Paid  in  part  hy  my  Draft  on  Joseph  B.  Lownes  @  wght 

Remainder  Bo't.  @  6  mos.  credit 


200.00 
1,800.00 


I 


t8 


90  00 


25500 

I 


47100 


675 


00 


2,000 


00 


s/ 


>/ 


%/ 


>/ 


^/ 


>/ 


V 


v/ 


^/ 


DAY-BOOK,  SET  11. 

Philadelphia,  February  9th,  1852. 


2 


Paid  in  Cash  my  Note,  Myers,  Claghorn  &  Co.'s  favor,  Am't 
: 12th    


Exchanged  Notes  with  Isaac  McGrath,  each  drawn  @  30  days,  for 
his  Accommodation 

14th    


Bailey  &  Davis,  whose  Note  I  hold  for  $750.36,  have  failed,  and 
compounded  with  their  Creditors  for  70/  on  the  dollar,  J  to  be 
paid  in  Cash  and  J  in  Goods. 

Rec'd  in  Cash  262.62 

Mdse.,  as  pr.  Invoice,  amounting  to  262.63 

Lost  the  Balance  225.11 


600 


00 


1,200 


00 


16th 


750 


3G 


Sold  to  Allen  Thompson 

50  Prs.  Children's  Calf  Brogans  @  37'/ 


18th 


Bought  of  Manly  &  Co.  Mdse.,  as  pr.  Invoice,  Am't 
Paid  in  part  by  Note  of  Lyman  Bellamy,  my  favor 

Gave  my  Note  @  30  days,  for 

Paid  the  Balance  in  Cash 


425.00 
400.00 
375.00 


20th 


18 


1,200 


75 


00 


Sold  to  Thomas  Stotesbury  &  Co. 

5  Cases,  300  Prs.  Men's     Stout  Brogans     @  $1.10  330.00 

5     "      300   "         "        Kip  "            "     1.00  300.00 

4     "      240   "    Women's  "  Lace  Boots  "       .60  144.00 

2      "      120   "        "        Calf  "            "       .90  108.00 

Rec'd  their  Note  @  4  mos.  for  441.00 

Cash  for  Balance  441.00  882.00 

2l8t  


Discounted  my  Acceptance  of  the  4th  Inst.  @  30  days,  favor  of  Wm. 

G.  Ashton,  Am't 
Paid  in  Cash  673.20 

B^count  on  $675,  for  16  days,  is  1.80 


28th 


On  the  Night  of  the  22d  Inst.,  my  Stock  of  Goods  (with  the  Store) 

were  almost  entirely  consumed  by  Fire. 
The  small  portion  recovered  was  yesterday  sold  at  Auction  for  Cash, 

netting,  after  payment  of  Auctioneer,  Drayman,  &c. 


li 


Rec'd  in  Cash  of  the  American  Fire  Ins.  Co.  the  Am't  for  which 
I  was  Insured  on  my  Stock  of  Goods 


81 


882 


00 


675 


00 


32050 


6.000  00 


ELUCIDATIONS  FOR  JOURNALIZING  DAY-BOOK,  SET  II. 


February  2d 


This  Entry  of  your  effect,  invested  mast  be  XT/e^l^redefor^Ve"^^^^^  uZmTtC  Z 
'Xrreh;=«r;^"oranitre^,!;;:.\:^per^^^^^^^^^^  Sto«.(you„..f) 

Is  Cr.  for  the  whole  amount  of  your  investment. 

the  Journal,  page  65. 

, 2d ' 

Mdse.  is  Dr.  for  the  cost  of  insuring  the  goods. 

Cash  is  Cr.  for  producing  the  means  (value)  to  pay  the  Insurance.  constantlv 

—  Commit  to  memory  the  general  rule  for  journalizing,  page  02,  and  apply  it  constantly. 


V   C  Burrell  &  Co.  have  cost  you  value  in  the  goods  which  you  have  furnished  ^^^^I'^^JJ^SU^euf  Co' 
remuneratTon-and  must  be  debited.     Mdse.  has  produced  value  in  the  indebtedness  of  V.  C.  Burrell  k  Co. 

— and  must  be  credited. 


3d 


Ku",ppo7ed  ITa^  ;Ltd"'fr  The'tldrf  Philip  ileldo'n  to  /alter  Stockton  &  Co..  «.d  now,  c«mu.g 

due,  is  offered  by  them  in  payment  for  the  Mdse.  

: 4th 

value  goes  out  of  your  possession,  at  his  request  and  for  his  benefit 
In  this  case,  Burgess  &  Pinkerton  cost  value  in  Bills  Payable. 


7th 


Mdse  costs  value,  and  is  Dr.-J.  B.  Lownes  produces  value  by  permitting  you  to  draw  upon  l^i™  in  pay 
ment"Tort'ony         goods  bought;  and  C.  T.  Mayland  produces  value  by  furnishing  part  of  them 

"  m:L^r;ou  dXTdrSit  on  another  person,  that  person  must  be  credited,  as  he  produces  you  valut 

by  paying  the  draft. 

.^ 9th     — 

Another  note,  issued  by  you  prior  to  the  commencement  of  this  business,  falls  due  and  is  paid. 

Bills  Payable  costs  value  in  Cash. 

12th 


Bills  Receivable  costs  value  in  my  note  issued. 

Bills  Payable  produces  value  in  McGrath's  note  obtained. 


14th 


Biih,Keceivablehas,roduced.a.«eo„,y^ 
credited  the  full  amount  of  the  note,  $/o0.ob,  in  o'^J^y^^.;"!^  ",.-^„^  „__aid      Cash  is  D#for  what  it  has 
the  Leger  may  at  all  times  agree  T^^^^f  «,/™;"f  .^.tr^  G3-an^  receptac.e  of 

cost,  S2t>2.62-Mdse  is  Dr.  for  what  it  has  ^°/  '  f-^^-^"^'^  /^!;.>V°f  -,1  ^rder  to  transfer  the  loss  to  that 
all  your  gains  and  losses,  ^'J^f  ,^«  ^^^^^f  J^J.f  ."/^  J^^^^^^^^  $225.11,  is  «o^  explained  on  th^ 


ICth 


Mdse.  has  produced  value  in  the  indebtedness  of  Allen  Thompson. 

-    18th   


"  Lyman  Bellamy's  note  is  one  of  those  you  held  against  others  at  commencing  business. 

Mdse.  has  cost  value-Sundries  have  produced  value.  ^^  Invoice."  and  omit  the  items, 

J;:^:;;^^,^^^^:^  ITXS  S  Z^I^.^iX^ruZ  should  il-ays  he  speci^ed  in 
deta-l. 


2(Hh 


Sundries  have  cost  value  in  Mdse.,  and  Mdse.  has  produced  value. 

82 


ELUCIDATIONS  {continued). 

■      February  21st      


A  draft  which  has  been  accepted  by  you  is  styled  your  ** Acceptance^* — another  name  for  it  instead  of  note. 
Ditecunt'mg  a  note  means  paying  it  before  due,  for  the  sake  of  the  discount. 
Bills  Payable  (your  acceptance)  has  here  cost  value. 
Sundries,  viz.  Cash  and  Discount,  have  produced  value. 


28th 


Cash  costs  value  in  Mdse. 


(f 


Mdse.  produces  value  in  Cash. 

Insurance  offices  do  not  generally  pay  as  promptly  as  here  shown :  they  have  usually  a  proviso  in  their 
agreements,  allowing  from  iJO  to  60  days'  time  for  payment  of  losses  incurred. 


TRIAL  BALANCE,  LEGER,  SET  IL 


Dr. 


Cr. 


L.F. 
1 
1 
1 
1 
1 

2 

2 
o 

2 
2 
3 
8 
3 
3 


Stock  -        -        -        - 
Cash  ... 

Merchandise - 
Reading  Rail-Road  Stock 
Bills  Receivable     - 
V.  C.  Burrell  &  Co.  - 
Bills  Payable 
Charles  T.  Mayland   - 
Burgess  &  Pinkerton 
Levi  Williams  &  Co.  - 
Evans,  Peters  &  Co. 
Profit  &  Loss 
Allen  Thompson    - 
Discount  -        -        - 


INVENTORY-BOOK,  SET  IL 


1,190 


00 


7,680  00 

2,300  jOO 

565  56 


960 
1,150 


44 

50 


180 


13,848  30 


There  remains  on  hand  unsold,  Feb.  28th,  1852  : 

60  Shares  Reading  Rail-Road  Stock,  which  is  now  selling  @  $22  pr. 
Share  ------------ 


SECOND  TRIAL  BALANCE,  LEGER,  SET  IL  j^  ^ 


L.F. 
1 

3 
3 


Stock    - 
Profit  &  Loss 
BalaiMe 


t    a. 


STATEMENTS,  SET  IL 

STATEMENT  IST,  SHOWINa  NET   LOSSES. 


1,190  00 

1,038169 

2,228  69 


Losses. 


Bills  Rec,  ?^  %  of  B.  &  D.'s  note 
Mdse.,  lost  by  fire  more  than  gains 
Heading  11.-R.  Stock,  depreciation 

Total  losses 
Deduct  gains 

My  net  losses  are 


225111 

1,855  38 
150  00 


2,230 
1 


49 
80 


2,228,69 


Gains. 


Discount  on  note  paid  before  due 


180 


83 


I 


:^i^j^. 


STATEMENTS,  SET  II  {continueiT), 

STATEMENT   2d,  SHOWING   NET  INSOLVENCY   AT   CLOSING. 


Resources,  or  Assets. 


Reading  R.-R.  Stock,  Am't  unsold 

Cash  on  hand 

Bills  Rec,  held  by  me 

V.  C.  Burrell  &  Co.,  Bal.  due  «ne 

A.  Thompson,  ♦'       ♦• 

Total  assets 


«{ 


1,100 

6,561 

3,340 

6% 

18 


LiahilUiet. 


11,617 


00 
92' 
64' 

5o; 

75 


81 


Bills  Pay.,  held  by  others 
C.  T.  Mayland,  Bal.  I  owe 

Burgess  &  Pinkerton,  •♦  ♦♦  " 
L.  Williams  &  Co.  *♦  "  " 
Evans,  Peters  &  Co.     "    "    " 

Total  liabilities 
Deduct  assets 

My  net  insolvency  is 


STATEMENT   3d,  PROVING   STATEMENTS   IST  AND   2d. 


My  debts  at  starting  were 
Add  net  losses  (Statement  1st) 

Deduct  effects  invested  at  starting 
Gives  my  net  insolvency  (Statement  2d) 


10,851 
2,228 


13,080 
12,041 


1,038 


50 
69 


11^ 

50 

69 


My  net  capital  at  starting  was 
Add  net  insolvency  (Statement  2d) 

Gives  net  losses  (Statement  1st) 


7,680  00 

2,300.00 

666  66 


960 
1,160 


44 

60 

12,666^60 
11,617181 


l,038;6y 
i 


i,i9o;oo 

1,038;69 


2.228 


69 


Therefore: — 
In  a  business  commencing  with  net  capital  and  closing  with  net  insolvency, 

To  find  your  Net  Insolvency : 
Ist,  Deduct  the  net  capital  at  starting  from  the  net  losses  in  business. 
2d,  Deduct  the  total  assets  from  the  total  liabilities. 

To  find  your  Net  Losses  in  Business: 
1st,  Deduct  the  total  gains  from  the  total  losses. 
2d,  Add  the  present  net  insolvency  to  the  net  capital  at  starting. 


i 


t ,.»  t    * 


SET  III,  DOUBLE  ENTRY. 


In  this  Set  you  are  supposed  to  have  made  a  satisfactory  arrangement  with  your 
creditors,  so  as  to  resume  and  continue  your  business,  which  was  summarily  ended  in 
th«  last  Set,  by  your  stock  of  goods  being  consumed  by  fire. 


f  QUESTIONS  FOR  REVIEW,  SET  11. 

With  what  must  the  Trial  Balance  of  your  Lcger  agree,  to  show  that  you  have  joumalized  and 

posted  this  Set  corrqqtly  ?  ,  ,.«.     -        *i.  *  •    o  *  t  9 

Wherein  does  the' business  represented  in  this  Set,  differ  from  that  in  Bet  1  .^ 

What  should  be  debited  and  what  credited  in  the  following  transactions,  and  why  ? 

1st  Cash  paid  for  insuring  Mdse.— 2d,  Mdsc.  sold  on  account.— 3d,  Mdsc.  sold  for  your 
note  outstanding  and  for  cash.— 4th,  Accepting  another  person's  draft  on  ycu.— 5th,  Buying 
Mdse  with  your  draft  on  another  person,  and  on  account.— 6th,  Taking  up  your  note  by  pay- 
ing cash  for  it.— 7th,  Exchanging  notes  with  another  person.— 8th,  Failure  of  a  party  whose 
note  you  hold,  payment  of  part  in  cash,  part  in  Mdse.,  and  balance  lost.— 9th,  Sale  of  JMdae.  on 
account  —10th,  Purchase  of  Mdse.  for  another  person's  note  held  by  you,  your  own  note,  and 
cash  — ilth,  Sale  of  Mdse.  for  another  person's  note  and  for  cash.— 12th,  Discounting  your 
own  note.— 13th,  Sale  of  Mdse.  for  cash.— 14th,  Receipt  of  cash  from  an  Insurance  Co.  for 
Mdse.  destroyed  by  fire. 

What  are  the  total  losses  in  Set  II  ?     The  total  gams  ? 

What  are  the  net  losses  ?     How  ascertained  ? 

What  are  the  total  assets  ?     Total  liabilities  ? 

What  is  the  net  insolvency  ?     How  ascertained  ? 

What  is  the  amount  of  your  debts  at  starting,  added  to  your  pet  losres? 

What  remains  after  deducting  from  this  amount  your  effects  invested  f 

How  much  was  your  net  capital  at  starting  ? 

What  if"  found  by  adding  to  this  your  net  insolvency  7  ^     i  •    q  ♦  • 

By  what  two  methods  can  you  ascertain  your  net  insolvency  m  this  Set  7 

By  what  two  methods  can  you  ascertain  your  net  losses  in  this  Set? 


...    , 


^b 


t.   ,J 


.Jia^l^ 


I 


\ 


DAY-BOOK,  SET  III. 

Philadelphia^  March  1«/,  1852. 


I  have  tlie  following  Effects  on  resuming  business. 
Cosh  on  hand 
.  Sundry  Notes  of  other  persons,  my  favor 
50  Shares  Reading  Rail-Road  Stock,  @  $22 
V.  C.  Burrell  &  Co.  owe  me  on  % 
Allen  Thompson  owes        "    "    " 


6,561.92 

3,340.64 

1,100.00 

596.50 

18.75 


11,617 


I  owe  on  sundry  Notes  outstanding,  favor  of  others 

To  Charles  T.  Mayland  on  % 

"  Burgess  &  Pinkerton  "  " 

"  Levi  Williams  &  Co.  "  " 

"  Evans,  Peters  &  Co.   "  " 

1st  — 


7,680.00 

2,300.00 

565.56 

960.44 

1,150.50 


81 


Bought  a  new  set  of  %  Books,  of  Murphy  &  Co.,  for  Cash 
: 2d    


Bought  of  Charles  T.  Mayland  Mdse.,  as  pr.  Invoice,  Am't 
Paid  him  in  part  by  Note  of  Root,  Warden  &  Co.,  my  favor  1,699.64 
Cash  for  the  Balance  1,300.36 


u 


Bought  of  Burgess  &  Pinkerton,  on  %,  @  3  mos. 
Mdse.  as  pr.  Invoice,  Am't 
>   3d  


12,656 


20 


3,000 


50 


00 


00 


2,516,00 


Sold  to  Allen  Thompson, 

6  Cases,  360  Prs.  Women's  Calf  Lace-Boots,  @  81 

^ 5th  


Paid  Levi  Williams  &  Co.,  Cash,  in  full  of  % 
-  8th  


Sold  to  Bent,  Foster  &  Lewis, 

10  Cases,  120  Prs.  Men's  Stout  Boots,      @ 

2  "       120    "       "       Lasting  Gaiters, " 
6       "       360    "    Youth's  Stout  Brogans 
8       "       480    "         "       Kip         " 

3  «       180    "    Children's  Calf  " 

Ree'd  their  Notes,  one  @  30  days  for 

a     u  60     "     " 
«     u  90     a      a 


u 
u 


$2.00 

1.75 

.62' 

.50 

.37' 

827.50 

327.50 

327.50 


240.00 
210.00 
225.00 
240.00 
67.50 


860 


960 


00 


44 


982.50 


10th 


982  50 


Sold  to  Blackman  &  Packard,  for  Cash, 

2  Cases,  120  Prs.  Men's  Goat  Nullifiers, 


2 
2 
2 
2 
1 
1 


120 
120 
120 
120 
60 

eo 


« 

a 


Women's  Grain  Buskins 
"  Lasting  J  Gaiters 

«     Col'd  "  " 

«  Kid  Slippers  R.  R. 

Misses'  Goat  Lace  Boots 
«       R.  R.  Paris  Ties 
86 


"  60 
«  90 
"  85 
"  70 
"  75 
«  62« 


96.00 
72.00 
108.00 
102.00 
84.00 
45.00 
37.50 


644J50 


DAY-BOOK,  SET  III. 

Philadelphia,  March  ISth,  1852. 


Sold  to  Wilson,  Fenner  &  Welsh,  | 

6  Cases,  360  Prs.  Women's  Calf  Lace  Boots,       @$1.25  450.00  \ 

3  "      180  "         "         Goat  Buskins,  "    1.15  207.00 

4  "      240  «         «         Lasting  Gaiter-Boots,"    1.25  300.00 
4     "     240  "        "        Kid  Slippers  R.  R.     «      .90  216.00 

Ree'd  in  payment  my  Note  of  19th  ult.,  @  30  days,  favor 
of  Manly  &  Co.  400.00 

Cash  for  Bal.,  including  Discount  773.60      1,173.60 

The  Discount  on  my  Note,  $400,  for  9  days,  am'ts  to 

16th 


My  Note,  favor  Isaac  McGrath,  dated  12th  ult.,  @  30  days,  coming 
due  this  day,  has  been  taken  up  by  him,  and  returned  to  me, 
for  which  I  have  given  him  his  Note,  my  favor,  of  same  tenor 
and  date 

22d  


Bought  of  Myers,  Claghorn  &  Co.,  at  auction,  for  Cash, 
Mdse.,  amounting,  pr.  Invoice,  to 

^ 24th 


Reading  Rail-Road  Stock  having  suddenly  risen,  I  have  had  my  50 

Shares  sold  by  a  Stock-Broker,  @  $30  pr.  Share   1,500.00 

Ree'd  the  Cash,  less  his  Com.,  @  J%on  $1,500.00,  for  selling      7.50 


1,17a  00 


GO 


1,200 


00 


1,522 


36 


27th 


Thomas  Stotesbury  &  Co.  have  discounted  their  Note  of  the 

21st  ult.,@  4  mos.,  my  favor,  for 
Ree'd  in  Cash  434.53 

Discount  on  $441,  for  88  days,  is  6.47 

■ 30th 


1,492 


50 


Sold  to  Wm.  F.  Godwin,  for  his  Note@  3  mos., 

10  Cases,  120  Prs.  Men's  Calf  Stitched  Boots,  @  $5.25     680.00 
5       "        60    "        "         "    Sewed        "      "    3.50     210.00 


44100 


31st 


Ree'd  from  the  Executors  of  my  Aunt  Mrs.  Whiteman's  Estate,  Cash 
in  full  of  her  Bequest  to  me. 


No  Inn.  htm  been  eff«'t*cl  In  thin  Set,  becaufe  it  waa  not  deemed  advisable  to  occupy  space  with  the  entry. 
Many  other  entries,  which,  in  a  real  bu^inesR,  would  occur,  such  as  paying  fieut  of  Store,  &c^  liave  been 
omitted,  in  this  and  the  other  Sets,  for  a  like  reason. 


840 


00 


500 


00 


87 


ELUCIDATIONS  FOR  JOURNALIZING  DAY-BOOK,  SET  in. 


March  Ist 


The  opening  entries  arc  so  nearly  like  those  of  Set  II,  that  I  think  you  will  need  no  addiUonal  explana- 
tion of  them. 


<i 


The  eld  books  having  been  badly  damaged  by  fire,  you  have  closed  them  up,  and  purchased  a  new  Ml 
for  use  in  the  Counting-house. 

Store  Expenses  have  cost  value.     Cash  has  produced  value. 


—     2d 


Mdse  costs  value  in  Sundries. 

Sundries— viz.,  Bills  Receivable  and  Cash— produce  value  by  paying  for  the  goods. 


II 


Mdse.  costs  you  value.  ,      .  ,. 

Burgess  &  Pinkerton  produce  you  value  by  furnishing  the  goods  without  payment 


8d 


A.  Thompson  hns  received  value  of  you  to  the  amount  of  goods  you  furnish  him— in  other  words,  hat 
cost  you  value — and  is  Dr. 

Mdse.  has  produced  value  in  his  indebtedness. 

5th     — 

Levi  Williams  &  Co.  have  received  value  from  you  in  Cash. 
Cash  has  produced  value  by  paying  their  account 

•    8th 


Bills  Receivable  costs  value  in  Mdse.     Mdse.  produces  value. 
_^ . 10th    


Cash  costs  value  in  Mdse. 


13th 


Bills  Payable  and  Cash  have  cost  value,  and  Mdse.  and  Discount  have  produced  value. 
As  this  is  the  first  case  in  which  sundry  debtors  and  sundry  creditors  occur  in  the  same  entry,  I  will 
journalize  it,  to  show  you  the  form. 

Sundries  Dr.  To  Sundries. 

2  BUls  Payable 

1     Cash I"  1,173  00 

8  To  Merchandise  ----------|  ^q 

3  "  Discount    -------'---" 

In  posting  this  transaction,  the  entries  in  the  Lcger  should  be  "To  Sundries,"  and  "By  Sundries;"  and 

neither  a  post  nor  a  post-mark  is  required  to  the  word  "  Sundries." 


400 

773 


00 

60 


16th 


On  the  12th  ult.  you  exchanged  notes  with  Isaac  McGrath  for  his  accommodation,  because  he  could  use 
your  note,  with  his  endorsement  on  it  better  than  he  could  his  own  note.  He  made  u*e  of  your  note,  and 
when  it  came  due  to-day,  paid  it  and  now  returns  it  to  you  and  receives  his  note,  which  he  had  given  yom 

M  security.  ,  ,       ,  i 

Bills  Payable  has  cost  you  value.    Bills  Receivable  has  produced  you  value. 


Mdse.  has  cost  value  in  Cash. 


22d 


—     24th 


Cash  has  cost  value  in  Reading  R.-R.  Stock.    Reading  R.-R.  Stock  has  produced  value. 

Nora  -Stock-Brokers  in  Philadelphia  and  Fome  other  cities  charge  commission  on  the  nominal  par  value  of  the  Stock  •old.  whicMn 
i^^LilTi-Ts^^ir^Vri^hure,  making,  in  this  transaction,  $2,500  oni^hich  to  reckon  commi«ion;  but  a.  thi.  i«  a  loci 
•mngement,  I  h»Te  preferred  to  estimate  oommiMion  only  on  the  real  price  of  sale. 


27th 


Cash  and  Discount  have  cost  value. 
Bills  Receivable  has  produced  value. 


-    30th 


Bills  Receivable  has  cost  value  in  Mdse. 


81  St 


Thi«  Cash  forms  a  new  invt»iment,  and  must  be  credited  to  Sloek,  the  same  as  effects  invested  at  the  com- 
mencement of  business.  The  ffeneral  rule  for  transactions  does  not  here  apply.  Cash  having  been  received 
without  value  having  been  given  for  it 

88 


TRIAL  BALANCE,   LEGER,   SET  IH. 


Dk. 


Cr. 


L.F 
1 
1 
1 
1 
1 

2 
2 
2 
2 
2 
3 
3 
3 


Stock  -        -        .        . 
Cash         -         -         - 
Bills  Receivable    - 
Reading  Rail-Road  Stock 
V.  C.  Burrell  &  Co. 
Allen  Thompson 
Bills  Payable 
Charles  T.  Mayland  - 
Burgess  &  Pinkerton 
Evans,  Peters  &  Co.  - 
Store  Expenses 
Merchandise 
Discount       ... 


538  69 
6,50389 
1,822  50 


596 

378 


20 

3,138 

5 


13,004 


50 
75 


00 
36 

87 


392 


50 


6,080|00 
2,300!00 


3,081 
1,150 


56J  13,004 


5<» 
5U 


5(5 


INVENTORY-BOOK,   SET  IIL 


There  remains  on  hand,  unsold,  Mar.  31st,  1852,  Merchandise  amounting 
to*- 


STATEMENTS,   SET  IIL 
The  total  gains  accruing  from  this  business  are 
losses 


u 


n 


« 


n 


i( 


Making  the  net  gains 


-  $1,172.65 

25.87 

-  $1,146.78 


The  total  assets  at  closing  the  books  are 
"       "     liabilities    " 


u 


a 


-        -        -.       -        -        -     $13,220.15 
"       " 12,612.06 

Making  the  net  capital,  or  present  worth  -  $608.09 


I  commenced  business  with  a  net  insolvency  of 

From  which  deduct  the  bequest  of  my  Aunt  Whiteman 

Debit  balance  of  Stock  account    - 


-  $1,038.60 
500.00 


1  nave  gamed  sufficiently  to  cover  this  indebtedness,  and  to  have  a  net  capital  now  of         608.09 

Making  the  net  gains,  as  above        .... 


$1,146.78 


My  net  gains  in  business  have  been 
The  debit  balance  of  Stock  account  is 


Making  the  net  capital,  as  above  - 


$1,146.78 
538.69 

$608.09 


There/ore:  In  a  business  like  the  present, 

To  Jind  your  present  worth : 
Ist.  Deduct  the  total  liabilities  from  the  total  assets. 
2d.  Deduct  the  debit  balance  of  Stock  account  from  the  net  gains  in  business. 

To  jvnd  your  net  gains  in  business: 
1st.  Deduct  the  total  losses  from  the  total  gains. 
2d.  Add  the  present  worth  to  the  debit  balance  of  Stock  account. 

•  In  a  real  Inventory-Book,  of  course  all  the  details  of  the  Mdse.  or  other  property  unsold  would  be  specified  m 
ttu  u  the  very  object  of  the  book.  *r    r     j  r  * « 

M  89 


>.■ 


.4 


QUESTIONS  FOR  REVIE-W,  SET  IH. 


y 


How  can  you  retain  caah,  notes  and  other  effects  n  yonr  !><»««?«""•' «"'1,«<'X™™  85^1 
tbciewith  as  in  this  Set,  ■when  you  are  really  insolvent  at  the  outset  ?     [See  page  8&.J 

What  would  you  debit,  and  what  credit  in  each  of  the  following  transact.ons-and  why? 

What  juld  you  dcD  ^^^  ^^^  eash.-id,  Purchase  of  Mdse^  f»' """f  »' 

anoth™on?  my  favor,  and  for  cash.-3d,  Purchase  of  Mdsc.  on  account.--4  h,  Sje  of 
Mdse  on  tbic  -5lh,  Payment  of  cash  in  full  of  an  account  which  you  owe.-6th.  Sale  of 
Mdre  ?or  ^00  notes  of^another  person.-7th.  Sale  of  Mdse  for  cash  -8th  S^«  »f  Mdsc^ 
for  your  own  note  and  cash,  your  note  not  being  yet  due- and  you  being  allow  da  d^^^^^^ 
X,W,n  —0th  EeceiDt  of  your  note  prcv  ously  exchanged  with  another,  and  rehnquisliment 
ofTc  othef  i-eSnol^eld  by  yo'u.-10tli:  Purchase  of  Mdse.  ^T  -•^-ll^^^^  ^ale  o^ 
Readiu-  Rail-Road  stock  for  cash.— 12,  Discount  by  another  jperson  of  his  note  held  by  you. 
-IslhT  &de  of  Mdse.  for  another  person's  note.-Uth,  Receipt  of  a  bequest  m  cash. 

What  are  the  total  gains  accruing  from  the  business  in  Set  Ul  I 

What  are  the  total  losses  ?    What  the  net  gains  ? 

What  are  the  total  assets?     The  total  liabilities ?     The  net  capital 7 

What  was  the  net  insolvency  at  commencing?  '  - 

What  was  the  amount  of  Mrs.  Whiteman's  bequest  to  you  ? 

What  is  the  debit  balance  of  the  Stock  account  after  deducting  this  bequest  T 

Wh^l  amounfdo  you  obtain,  by  adding  your  present  net  capital  to  tLe  debit  baUnce  of  SU«k 

Wrrb^le^m"  nVl^LTrtintfhe  debit  balance  of  Stock  «=count  from  the  net  gain,  in 

In\Z:Sls''lt:^tl^t,'whTtwf^^^^^^^        there  for  a^crtaining  the  present  worth? 
What  two  methods  for  ascertaining  the  net  gams? 


GENERAL  REMARKS. 

You  have  now  been  presented  with  three  Sets  of  books  by  Double  Entry  :-the  first, 
reweLtbg  you  as  commencing  business  with  a  snug  capital  and  without  any  debts; 
3sun?t  prosperously,  and  thus  increasing  your  capital.     In  the  second,  you  com- 
menced  with  greater  meins  in  possession,  but  owing  debts  to  nearly  the  same  amount  :- 
you  werl  attended  with  misfortune,  in  the  destruction  of  your  goods  by  fire,  without  u 
n  insurance,  and  probably  too  for  want  of  experience  in  the  business  in  which  you 
eSager°either  bought  nor  sold  to  the  best  advantage ;  thus  sustaining  a  large  loss 
wWch  swallowed  up  your  net  capital,  and  left  you  with  about  an  equal  'n^o'vency      In 
The  third   Tou  resumed  and  continued  your  business  so  summarily  ended  in  Set  II, 
reLiS'in  your  hands  all  the  means  left  you  until  such  time  as  you  are  able  to  pay 
your  cred itorl  who  are  supposed  to  appreciate  your  business  talents,  to  confide  m  your 
&Tty  and  to  agree  to  extend  the  time  of  payment.     Having  learned  by  experience 
to  bSe  cautious  and  skilful,  you  thus  make  sufficiently  large  gains  to  cover  your 
insolvrcy,  and  have  a  small  net  capital  again.     A  bequest  from  your  Aunt  somewhat 

'Tnrp'rtoTe'iurnishing  you  with  some  examples  of  partnership  business,  both  where 
the  parTners^share  alike  in  gains  and  losses,  (as  in  Set  IV,)  and  where  their  shares  and 

'"TsMl'^ltoTo^'reirnt'^fu  ^^^^^^  another  style  of  keeping  accounts  .norter  than  the 
j!tlnZthod!.nA  us/d  by  houses  engaged  in  general  fd.ng  operations  sh.pp.ng 
business,  and  some  other  mercantile  pursuits.  It  will  at  first  require  more  thought  on 
y^r  part  than  the  preceding  Sets  have  done,  but  those  you  are  now  supposed  to  have 
mastered  and  thus  to  be  prepared  for  a  higher  step  on  the  road  to  a  thorough  knowledge 
T  account?;  and  no  task  should  be  thought  too  hard,  which  care  and  patience  will 
jvercome,  and  which  will  lead  to  knowledge. 

90 


Xiw*^ 


■r 


WW 


■^'l  1 


.  SEYMOUR  &  FITCH. 

SET  lY. 

DAY-BOOK  KEPT  IN  JOURNAL  FORM,  AND  NO 

JOURNAL  USED. 


i 


91 


•r' 


EXPLANATORY  EEMAUKS,  SETS  IV  AND  V. 

The  Sets  of  books  thus  far  shown  in  this  work  have  all  been  conducted  upon  the  old 
Italian  method.  I  now  propose  to  show  you  a  plan  which  is  far  more  in  use  at  the 
present  time,  and  bj  which  much  useless  writing  will  be  saved.  It  is  to  entirely  dis- 
pense with  the  Day-Book  in  History  form,  and  use  instead  a  Bay-Book  in  Journal  form^ 
in  which  the  entries  are  recorded  in  such  a  manner  as  not  only  to  present  a  complete 
history  of  the  business  transactions,  but  also  to  furnish  debits  and  credits  under  the 
proper  Leger  titles,  ready  for  posting ;  thus  rendering  it  useless  to  keep  a  Journal,  and 
doing  away  with  the  labor  of  journalizing.  The  general  rule  for  journalizing  becomes  now 
a  general  rule  for  determining  the  proper  debits  and  credits  in  making  original  entries, 

I  have  given  a  separate  history  of  the  business,  as  it  is  supposed  to  have  occurred, 
with  elucidations  of  such  transactions  as  seemed  to  require  elucidating.  This  history 
you  should  be  careful  to  distinguish  from  the  historical  Day-Books,  which  you  have 
already  passed  over,  as  it  is  not  used  in  actual  business,  and  is  not  intended  to  take  the 
place  of  any  book  which  is  used ;  but  is  given  solely  for  the  purpose  of  exhibiting  the 
transactions  as  they  would  occur  before  you  in  actual  commercial  operations.  Th« 
postings  are  made  direct  from  the  Day-Book,  which  is  the  book  of  original  entry. 

I  have  omitted,  as  in  the  preceding  Sets,  the  Cash-Book,  Check-Book,  and  all  other 
books  used  merely  as  auxiliaries,  because  your  mind  will  thus  be  less  burdened,  and  you 
¥rill  the  better  understand  the  primary  and  more  important  books  of  entry.  The  various 
auxiliary  books  are  shown  in  connection  with  Set  VI. 

Instructions  for  Writing  up,  Set  IV. 

This  Set  represents  a  partnership  business,  in  which  the  partners  invest  equal  amounts 
of  net  capital,  and  share  equally  in  gains  and  losses.     It  is  a  prosperous  business. 

After  examining  the  form  of  the  Day-Book  sufl&ciently  to  acquaint  yourself  with  its 
peculiarities,  lay  it  aside,  and  turn  to  the  history  given  of  the  business.  Apply  care- 
fully the  directions  previously  received  for  opening  books,  and  the  general  rule  for 
determining  what  to  debit  and  what  to  credit,  in  each  case ;  having  decided  which,  write 
down  the  entry  in  regular  Journal  form,  mingling  therewith  sufficient  explanations  to 
convey  to  the  mind  of  a  stranger  a  clear  idea  of  the  business  transaction. 

Make  out  your  Day-Book  on  a  loose  sheet  of  paper,  and  depend  upon  your  own  skill 
in  so  doing,  looking  at  the  Day-Book  given  as  little  as  possible,  until  you  have  completed 
your  own.  You  can  then  compare  and  make  any  necessary  corrections.  The  next  step 
is  to  post.  Then  close  up  your  Leger,  make  out  exhibits,  &c.,  as  heretofore  shown.  In 
posting,  let  the  partners*  accounts  be  the  first  accounts  opened  on  the  Leger.  I  have 
omitted  the  Index  to  the  Leger ;  but  this  you  can  make  out  for  yourself,  as  you  post. 

In  closing  the  Leger,  you  will  observe  no  Balance  account  is  opened ;  but  instead 
thereof,  the  balances  (of  such  accounts  as  would  be  closed  into  it)  are  "  brought  down  to 
new  account,''  in  the  same  manner  as  in  Single  Entry.  [See  explanation  on  page  18.1 
The  gains  or  losses  in  any  account  go  into  Profit  &  Loss,  as  heretofore ;  and  Profit  & 
Loss  is  closed  into  the  accounts  of  the  two  partners,  half  of  the  net  gains  to  each. 
When  the  Leger  is  entirely  closed,  take  your  Second  Trial  Balance— not  to  be  preserved, 
but  as  a  mere  proof  of  accuracy.  It  will  consist  of  all  the  balances  brought  down  to 
new  account,  and,  if  the  Leger  be  correctly  closed,  the  debit  balances  will  be  equal  in 
amount  to  the  credit  balances,  including  the  partners*  net  capitaL 

Instructions  for  Writing  up,  Set  V. 

In  this  Set,  there  are  three  partners,  sharing  unequally  in  gains  and  losses,  the  capital 
being  invested  by  two  of  them.  It  is  a  losing  business.  No  Day-Book  or  Leger  is 
given,  but  only  the  history  and  elucidations,  from  which  you  can  write  up  your  books 
as  explained  for  Set  IV.  First  prepare  your  Day-Book  on  a  sheet  of  paper,  and,  when 
corrected,  copy  it  into  the  blank  book  designed  for  it,  and  post  up  your  Leger  also  in 
the  accompanying  blank  book.  Draw  off  statements  from  your  Leger,  and  compare 
them  with  those  on  pages  109  and  110,  with  which  they  should  agree. 

Teachers  will  again  find  use  for  the  Key. 

92 


HISTORY  AND  ELUCIDATIONS,  SET  lY.      i 

St,  LouiSj  April  1st,  1852. 

Bela  N.  Seymour  and  Albert  Fitch  have  this  day  entered  into  partnership,  for  five 
years,  under  the  firm  and  style  of  Seymour  ^  Fitch,  for  buying  and  selling  Real 
Estate,  Steamboat  Stocks,  &c. : — the  parties  to  invest  equal  amounts  of  net  capita^ 
and  to  share  alike  in  gains  and  losses. 

3.  N.  Seymour's  Effects  invested  are  as  follows : 

Cash  on  deposit  in  the  State  Bank  of  Missouri  5,000.00 

One-Fourth  of  Steamboat  Sultana,  valued  at  6,500.00 

One-Eighth  of  Steamboat  Neptune,     "       "  4,500.00   $16,000.00 

He  owes  a  Note,  favor  of  Black  well  &  Co.,  due  May  18  th,  which  the 
Firm  assume. 
Making  his  Net  Capital  $8,500. 


8  7,500.00 


Albert  Fitch's  Effects  are 

Cash  on  hand  8,000.00 

A  Note  in  his  favor,  drawn  by  Thos.  Coleman,  due  May  22d,  3,525.50  $11,525.50 

He  owes  Debts  which  the  Firm  assume,  to  wit : — 

To  Coffin  &  Waite  890.00 

"  Silas  George  &  Son  2,135.50     $3,025.50 

Making  his  Net  Capital  $8,500. 

J^"  There  are  quite  a  number  of  neto  Leger  titlee  introduced  into  this  Set,  and  they  should  be  eotrefmUy 
eonnidered. 

In  all  the  pr||pding  Seta,  no  Bank  account  has  been  kept,  and  all  moneys  in  bank  have  been  counted  as 
cash,  the  bank^eing  considered  as  merely  another  place  for  keeping  money,  instead  of  the  safe,  and  tb» 
account  with  the  bank  being  regulated  by  the  Bank-Book  and  the  Check-Book,  (which  should  always  b» 
kept  when  there  are  any  dealings  with  bank,  and  which  will  be  hereafter  explained.)  This  is  the  iMisi 
method;  but  some  houses  prefer  keeping  accounts  with  the  different  banks  with  which  they  deal,  in  the 
same  manner  as  accounts  with  persons,  in  their  Leger— debiting  sums  deposited  therein,  and  crediting  snms 
checked  out     In  this  Set  the  latter  method  is  illustrated. 

In  the  above  transactions  between  the  parties  at  commencing  business,  observe  that — 

Ist  State  Bank  of  Missouri,  Steamboat  Sultana  Stock  and  Steamboat  Neptune  Stock  have  cost  the  firm 
▼alue  in  their  obligation  to  B.  N.  Seymour.     B.  N.  Seymour  has  produced  the  firm  value  in  his  investmenL 

2d.  B.  N.  Seymour  is  Dr.  because  he  costs  the  firm  all  that  they  assume  to  pay  for  him.  Bills  Payable  it 
Cr.  because  it  produces  the  firm  value  in  the  indebtedness  of  B.  N.  Seymour. 

3d.  Sundries  cost  the  firm  value  in  their  obligation  to  Albert  Fitch.  Albert  Fitch  produces  the  firm  ralna 
in  his  effects  invost<3d. 

4th.  Albert  Fitch  costs  the  firm  value  by  their  assumption  of  his  debts.  Coffin  &  Waite  and  Silas  George 
A  Son  produce  the  firm  value,  in  the  indebtedness  of  Albert  Fitch. 

The  (jenernl  rule  for  determining  what  to  dtbit,  and  what  to  credit,  (page  62,)  is  therefore  appIicaUe  to  tha 
opening  entries  in  partnership  books. 

■ 1st     .. 


Deposited  Cash  in  the  State  Bank  of  Missouri  $8,000. 

State  Bank  of  Missouri  has  cost  the  firm  value  in  Cash. 


3d 


Sold  A  of  Steamboat  Sultana  for  Cash  deposited  in  State  Bank  of  Missouri  $5,250. 

State  Bank  of  Missouri  has  received  the  value  produced  by  Steamboat  Sultana  Stock. 

When  both  the  debit  and  credit  Leger  titles  are  long,  you  may  phice  them  on  separate  lines  in  the  Daj-Book. 


5th 


Bought  of  Greely  &  Warburton  a  Farm  in  Pike  Co.,  of  this  State,  for  $3,000. 
Paid,  pr.  Check  on  State  Bank  of  Missouri,  $1,000.     Gave  our  two  Notes  for  tbfl 
Bal.,  secured  by  Mortgage  on  Farm— one  @  1  year,  $1,000— one  at  2years,  $1,000. 

Real  Estate,  Pike  Co.,  costs  the  firm  the  amount  paid  for  the  farm.  State  Bank  of  Mi^ouri  and  Bondii  4 
Mortgages  Payable  produce  value.  Bonds  &  Mortgages  Payable  are  a  species  of  Bills  Payable,  and  ai« 
sometimes  entered  to  that  account;  but  it  is  better  to  keep  them  distinct 


7th 


Drew  Cash  from  State  Bank  of  Missouri,  pr.  Check,  $500. 

State  Bank  of  Missouri  produces  value  in  Cash. 


(C 


Paid  Cash  for  J  Repairs  of  Steamboat  Neptune,  $75. 

Steamboat  Neptune  Stock  coats  value  in  Cash. 

93 


2     HISTORY  AND  ELUCIDATIONS,  SET  IV. 

St,  Louis,  April  9th,  1852. 

Paid  Albert  Fitch  Cash  for  private  use  $50.  ^  ^  ^.^  ^ 

Albert  Fitch  receives  value  from  the  firm,  for  ^Wch  he  must  he  debited 


C( 


Bought  of  Edwin  Shippen  Jr    a  House  &  Lot  No  95  M,jn  St    for  J20^00 

in  Sundries. 


lOth 


Checked  from  State  Bank  of  Missouri,  and  remitted  to  Newton  Snyder,  Pi'^e  Co    to 
be  usedChim  in  repairing  and  fencing  Farm,  according  to  directions  m  our  letter 

^^  tin  .!!tlt  .iO.  E..<uan^  iciead  of  N.  Sn^-.    B-HUnce,  co...  ™,..-SUt«  Bank  of  Mi. 
souri  produces  value. 

-  15th  ~~ 


Rec'd  intellieence  that  the  Steamboat  Neptune  was  snagged  and  sunk  in  the  Missis- 
sipVi  rivefX^^  Memphis,  on  the  9th  inst.,  and  has  been  dehvcred  over  to  the 

ThYBoTS  insured  for  $34,000,  we  have  received  i\Cash   (which  we  have 

^deposHed  instate  Bank  of  Missouri,)  from  the  Reliance  Mut»l  Ins.  Co.  of  this 
City,  our  i  of  same,  $4,250,  less  Expenses  $125,  =  ?4  l_o. 

Lost  the  Bal.  of  our  share  of  the  Cost  of  said  Boat,  ?4o0. 

sLboat  Neptune  m^ook  ,nu.t  here  be  credited  $4,67»  -  »4,125  for  valu.  produced  in  c..b,  and  $4.0  a. 

*  HSSHSs?lm'rt4°:.i?/*e  .^^^^^^^^^^    .tc-nboat  into  th.  Profit  *  L.«  accounW 
which  is  the  recepucle  of  aU  gains  and  '»=«•» '"J"""'':    ^„,f„  „f  ,i,  ,„„  i>„t  the  transfer  Is  a  regular 


-  16th 


■R/^Titrlit   it  Anction.  i  of  Steamboat  Sioux,  for  $6,120.  ,  ,     , . 

Sn  narrby  No  e  of  T.  Coleman,  favor  of  A.  Fitch  and  invested  by  h.m  on  com- 

^  menci'ng  BuS  due  22d  proxim'o,.  $3,525.50 ;  Check  on  State  Bank  of  Missouri, 

$2,500l  Cash  for  Bal.,  including  Dis.  on  Note,  ?115.b&. 
The  Discount  on  Note,  $3,525.50  for  36  days,  is  $21.15. 

^"     raZt  Sioux  Stociand'piscount  cost  value.    BUi.  Receivable  and  State  Bank  of  Missouri  prodne. 
value. . 


It 


Passed  our  Note,  @  30  davs,  to  the  St.  Louis  Ins.  Co    for  Ins.  on  our  Share  of  the 
^Ttealoat  Sioukfor  $6,250,  @  2%  =  $125,  &  Policy  $1. 

Steamboat  Sioux  Stock  cosU  value  in  Bills  Payable.  , 


-  20th 


Loaned  Henry  Bolton  Cash  $200. 

Open  an  iount  with  Loan,  instead  of  Henry  Bolton.    Loans  account  cost,  value  m  Cash. 

23d  ^ — ■ ' 

Eec'd  from  Newton  Snyder  an  %  of  Fencing  &  Repairs  on  our  Farm,  Pike  Co.,  paid 
-from  our  Remittance  of  10th  inst.,-Am't,  including  his  Com.,  $215. 
He  ha^  sent  us  the  Bal.  of  the  Remittance,  m  Cash,  }^6b. 

Kemittances  account  furnishes  the  money  for  repairs,  Ac    and  thus  produces  the  firm  va^u*. 
Real  Estate,  Pike  Co.  and  Caeh  receive  this  value  Irum  the  Urui. 


niSTOEY  AND  ELUCIDATIONS.  SET  IT.      3 

St.  Lmis,  April  2m,  1852. 

Sold  our  Farm  in  Pike  Co.,  to  Silas  George  &  Son,  for  $4,000. 

Offset,  as  part  payment,  the  Am't  which  we  owe  them  on  %,  $2,135.50;  Roc'd  Cas^h 

in  part,  $364.50 ;  and  their  Note  for  Bal.,  payable  in  2  years,  secured  by  Mortgag 

on  Property. 

Silas  George  &  Son,  Cash  and  Bonds  &  Mortgages  Receivable  have  cost  value  in  Pteal  Estate.     Bon^ls*  4 
Mortgages  Receivable  are  a  class  of  Bills  Receivable,  but  should  be  kept  distinct,  especially  when  numerous. 


—  27th 


Bought  of  Lemuel  Fraley,  pr.  Check  on  State  Bank  of  Missouri,  ^ 

40  Shares  State  Bank  of  Missouri  Stock,  @  $48  pr.  Sh. 

State  Bank  of  Missouri  Stock  has  cost  value.     State  Bank  of  Missouri  has  produced  value. 

These  are  two  distinct  accounts ;  the  Bank  Stock  being  a  species  of  speculating  property,  like  Mdse. 


u 


Deposited  ir*  State  Bank  of  Missouri  Cash  received  for  6  mos.  Rent  of  House  and 
Lot,  No.  95  Main  St.,  $600. 

Real  Estate  Main  St  has  produced  value  in  the  indebtedness  of  the  State  Bank  of  Missouri. 


28th 


Henry  Bolton  has  paid  us  the  Cash  loaned  him  on  the  20th,  $200. 

Loans  account  has  produced  value  in  Cash. 

29th  


Sold  to  Coffin  &  Waite  30  Shares  State  Bank  of  Missouri  Stock,  @  $50  pr.  Sh. 
Rec'd  payment,  in  part,  by  the  canceling  of  our  indebtedness  to  them,  $890 ;  with 

Interest  allowed  by  us  on  same,  $6.50 ;  and  their  Check,  which  we  have  deposited 

in  the  State  Bank  of  Missouri,  for  Bal.,  $603.50. 

Coffin  <t  Waite,  Interest  and  State  Bank  of  Missouri  have  cost  value  in  State  Bank  of  Mi>:.T0uri  Stock. 


30th 


Rec'd  in  Cash  the  Dividend  on  10  Shares  State  Bank  of  Missouri  Stocky  par  value 
$500,  @  5  %  =  $25. 

State  Bank  of  Missouri  Stock  has  produced  value  in  Cash. 


(( 


Rec'd  of  Clerk  of  Steamboat  Sioux,  a  Check,  which  we  have  deposited  in  the  State 
Bank  of  Missouri,  for  our  J  Net  Proceeds  of  Trip  No.  13,  to  New  Orleans, 
$309.35. 

Steamboat  Sioux  Stock  has  produced  value  in  the  indebtedness  of  the  Bank. 


u 


Discounted  Note  drawn  by  B.  N.  Seymour,  favor  of  Blackwell  &  Co.,  assumed  by  the 

Firm  at  commencing  Business,  due  the  18th  proximo,  $7,500. 
Paid  by  Check  on  State  Bank  of  Missouri,  $7,477.50. 

Discount  on  $7,500,  for  18  days,  is  $22.50. 

When  the  firm  assumed  the  payment  of  a  note  outstanding  against  B.  N.  Seymour  at  commencing  business 
Bills  Payable  received  a  credit,  as  cancelling  the  indebtedness  of  the  firm  for  the  time.  This  note  has  now 
been  taken  up  and  has  cost  the  firm  value.     State  Bank  of  Missouri  and  Discount  have  produced  valoe. 


95 


F- 


1 


DAY-BOOK,  SET  IV. 

Si.  Louis,  April  \st,  1852. 


Dr. 


Cr. 


L.F. 


Bcla  N.  Seymour  and  Albert  Fitch  have  this  day  en- 
tered into  partnership,  as  pr.  Articles  of  Agreement. 


1 
1 
1 

1 

2 


Sundries  To  Bela  N.  Seymour, 

For  Effects  invested 

State  Bank  of  Missouri,      Cash  on  deposit 
Steamboat  Sultana  Stock,  \  of  said  Boat 
Steamboat  Neptune  Stock,  \ 


((    It     t( 


Bela  N.  Seymour  To  Bills  Payable, 

Note,  fayor  of  Blaokwell  &  Co.,  assumed  by  the  Firm 

let 


2 
2 


Sundries  To  Albert  Fitch, 

For  Effects  iqyested 
Cash,  On  hand 

Bills  Receivable,  Note  in  his  favor,  drawn  by  Thomas 

Coleman,  due  May  22d 


1 

2 
2 

1 

2 


1 
1 


Albert  Fitch  To  Sundries, 

To  CoflBn  &  Waite,        Bal.  of  %  assumed 

"  Silas  George  &  Son,  " 


((  ti       «i 


1 

3 


2 

1 

1 
o 


■(( 


State  Bank  of  Missouri  To  Cash, 

Deposited 

\ 3d     


State  Bank  of  Missouri 

To  Steamboat  Sultana  Stock, 

Sold  -^  of  this  Boat  for  Cash  deposited 

5th    


Real  Estate,  Pike  Co.  To  Sundries, 

Bo't  of  Greely  &  Warburton  a  Farm,  for 
To  State  Bank  of  Mo.,  Paid  pr.  Check 
"  Bonds  k  Mortgages  Payable, 

Our  Notes  for  Bal.,  secured  by  Mortgage  on  Farm, 

One  %  1  year,  $1,000.00 

««    "  2    •*  1,000.00 


7th 


Cash 


To  State  Bank  of  Mo., 


Drew  out,  pr.  Check 


M 


Steamboat  Neptune  Stock,        To  Cash, 

Paid  for  \  Repairs  of  said  Boat 


5,000 
6,500 
4,500 


7,500 


00 
00 
00 


00 


8,000 
3,525 

3,025 


8,000 


5,250 


16,000 


00 


00 
50 

50 


7,500 


00 


3,000 


96 


500 


75 


54,876 


r 


00 


00 


11,525 


00 


50 


00 


00 


00 


890 
2,135 


8,000 


5,250 


00 
50 


00 


00 


1,000 


2,000 


500 


75 


00 


54,876 


00 


00 


00 


00 


L.F. 
1 

2 


DAY-BOOK,  SET  IS. 

St.  Louis,  April  9th,  1852. 


2 


Dr. 


Cr. 


Albert  Fitch 


To  Cash, 


1 
3 


3 
1 


—    9th 


On% 


Real  Estate  Main  St.  To  Sundries, 

Bo't  House  &  Lot,  No.  95  Main  St.,  for 
To  Steamboat  Sultana  Stock, 

Gave  y'j  of  this  Boat  in  part  Pay't 
"  State  Bank  of  Mo.,  Our  Check 
"  Bonds  &  Mortgages  Payable, 

Our  Bond,  @  2  years,  secured  by  Mortgage 

— 10th    . 


50  00 


20,000  00 


50 


Remittances    .-  To  State  Bank  of  Mo., 

Checked  from  Bank,  and  remitted  to  Newton  Snyder, 
Pike  Co.,  to  be  used  by  him  in  repairing  and  fencing 
Farm,  as  pr.  directions  in  our  letter  of  date 

15th     


250(00 


^^''^"^^  To  Steamboat  Neptune  Stock, 

This  Boat  was  snagged  &  sunk  in  the  Mississippi  river 

above  Memphis,  on  the  9th  inst,  and  has  been  deUvered 

over  to  the  Underwriters 
State  Bank  of  Mo.,  Rec'd,  from  t],e  Reliance  Mutual  Ins. 

Co.,  the  Am't  covered  by  Ins.,  (J  of  $34,000,)  $4,250.  less 

Expenses,  $125, 

Lost  the  Bal. 


2,000 

9,000 
9,000 


00 


Profit  &  Loss, 


250 


00 
00 

00 


4 
4 

2 

1 

2 


4 

2 


4 
2 


-     16th 


4,12500 
450  00 


Sundries 

Steamboat  Sioux  Stock, 

Discount, 

To  Bills  Receivable, 

favor  of  A.  Fitch,  due  22d  proximo 
"  State  Bank  of  Mo.,  Our  Check 
"   Cash,  For  Bal.,  including  Dis.  on  Note 


To  Sundries, 
I  of  Boat,  Bo't  at  Auction 
On  Note,  $3,525.50,  for  36  days 
Paid  in  part  by  Note  of  T.  Coleman, 


6,120 
21 


« 


Steamboat  Sioux  Stock 

To  Bills  Payable,  Our  Note  @  SO  days,  favor  St  Louis 

Ins.  Co.,  for  Ins.  on  $6,250,  @  2  ^  &  Policy 

20th    . 


126 


00 
15 


4,575 


00 


00 


Loans 


3 
2 


Sundries 


Loaned  to  Henry  Bolton 

— 23d 


To  Cash, 


To  Remittances, 
Rcc'  of  Newton  Snyder  an  %  of  the  use  made  of  our 
Remittance  to  him  of  10th  inst.  Amount 

Real  Estate  Pike  Co.  Fencing,  Repairs,  &  his  Com. 

^^5"  Bal.  returned 


200 


00 


N 


97 


215 
35 


00 


31,592 


00 
00 


3,525 

2,500 

115 


50 
00 
65 


126 


200 


250 


00 


00 


151 


31,592 


00 


16 


T 


DAY-BOOK,  SET  IV- 

St.  Louis,  April  26/A,  1852. 


Dr. 


Cr. 


L.F. 
3 

2 
2 
4 


4 
1 


1 

3 

2 
4 


Sundries  To  Real  Estate  Pike  Co., 

Sold  our  Farm  to  Silas  George  &  Son 
Silas  George  &  Son,  Offset  the  Am't  due  them 

Cash  Rec'd  in  part 

Bonds  k  Mortgages  Receivable, 

Their  Note  for  Bal.,  payable  in  2  years,  and  secured 

by  Mortgage  on  Property 

. 27th 


State  Bank  of  Missouri  Stock 
To  State  Bank  of  Mo., 

Bo't  of  Lemuel  Fraley,  pr.  Check,  40  Shares  Stock  @  $48. 

(t  .^ 


State  Bank  of  Mo.,  To  Real  Estate  Main  St., 

Rec'd  &  deposited  6  mos.  Rent  of  House  &  Lot,  No.  95 

: . 28th     . ■ 


2,135 
364 


1,500 


1,920 


50 
50 


00 


00 


4,000 


Cash 


To  Loans, 

Rec'd  of  Henry  Bolton,  for  Loan  of  20th  inst. 
29th 


00 


600 


200 


00 


00 


1,920 


600 


00 


2 
4 
1 

2 
4 


1 
4 


Sundries  To  State  Bank  of  Mo.  Stock, 

Sold  to  Coffin  &  Waite  30  Shares  Bank  Stock  @  $50. 
Coffin  &  Waite,  Offset  Am't  we  owe  them 

Interest,  Allowed  on  their  % 

State  Bank  of  Mo.,  Their  Check  deposited 

30th 


Cash  To  State  Bank  of  Mo.  Stock, 

Dividend  on  10  Shares,— $500  @  5  ^ 


(( 


1 

4 


State  Bank  of  Mo. 

To  Steamboat  SioiLX  Stock, 

Deposited  a  Check  Rec'd  of  the  Clerk  of  said  Boat,  for 
our  i  Net  Proceeds  of  Trip  No.  13,  to  N.  Orleans 


00 


200 


00 


890 

6 

603 

25 


00 
50 
50 

00 


1,500 


(( 


309 


35 


00 


25 


Bills  Payable  To  Sundries, 

Disc'd  our  Note,  favor  of  Black  well  &  Co.,  due  18th  prox. 
To  State  Bank  of  Mo.,  Our  Check 
*'  Discount,  On  $7,500,  for  18  days 


00 


309 


7,500 


16,054 


00 


35 


35 


7,477 
22 


16,054 


50 
50 

35 


•       I 


98 


Dr. 


LEGER,  SET  IV. 

Bela  N.  Seyimiir. 


Cr. 


1852. 

Apr. 


1 

30 


To  Bills  Pay. 
"£al.{NetCap.)toX€tc% 


7,500 

1  0,6  7  4 


18,174 


00 

I  0 


10! 


1862. 

Apr. 


(( 


1852. 
May 


1 

30 


By  Sundries  !  1  !  16,000i00 

"   Profit  &  Loss       !3      2,174  10 


By  Bal.  fr.  Old  % 


Dr. 


Albert  Fitch. 


1 18,174110 

10,674*10 

I 

Cr. 


1852. 

Apr. 


(( 


1 

9 

30 


To  Sundries 
"    Cash 

3.075.30 

*'BaI.{Kct  Cap.)toNeio% 


3,025  50 
50i00 


1  0,6  2  4 


13,699 


10 


60 


By  Sundries 
"   Profits  Loss 


1 1!  11,525  50 
3!    2,17410 


By  Bal.  fr.  Old  % 


13,699  60 
10,624  10 


Dr. 


1852. 

Apr. 


1 

3 
15 
27 
29 
30 


State  Bank  of  Missouri. 


Cr. 


To  B.  N.  Seymour 
"   Cash 
"  St'b't  Stock 

"  Pteal  Estate 
"  State  B'k  Stock 
"  St'b't  Stock 


To  Bal.  fr.  old  % 


1 
1 
1 

2 
3 
3 
3 


5,000 

•8,000 

5,250 

4,125 

600 

603 

309 


23,887 


1,240 


1852. 
OO'^Apr. 
00 

oo; 

00 
00 
50 
35' 


85 


35 


it 

« 


5 

7 

9 

10 


1 


By  Real  Estate 
'^   Cash 
"   Real  Estate 
"   Remittances 


16    "    Sundries 


27 
30 


"   State  B'k  Stock 
"   Bills  Pay. 

22  '"■4"'  W 

"   Bal  to  Kew% 


1 
1 

2 
2 

aj 
3 
3 


1,000,00 
50000 
9,000100 
250100 
2,50000 
1,92000 
7,477^50 

i 

1,2  4  OSS 


23,887'85 


Dr. 


Steamboat  SuUana  Stock. 


1862.  j 

Apr.  1 
"     3  0 


Cr. 


To  B.  N.  Seymour 
'' Profit  ^Los8(jgain) 


1 
3 


6,500 

750 


00 

ool 


7,250 


00 


1852. 

Apr. 


4< 


3 
9 


By  State  Bk  Mo. 
"   Real  Estate 

7,250.00 


1 

2 


I 
5,250i00 
2,000i00 

u 

7,25000 


Dr. 


1852. 

Apr. 


Steambocd  Neptune  Stock. 


Cr. 


1 

7 


To  B.  N.  Seymour 
"  Cash 

^375.00 


1 
1 


4,500|00 
75100 


4,575  00 


99 


2 


Dr. 


LEGEE,  SET  lY. 

Bills  Payable. 


Cr. 


1852. 

Apr. 


30 


To  Sundries 
"   Bal.  to  Neio  % 


7,500 

12G 


7,626 


00 

00 


00 


1862. 

Apr. 


i( 


1852. 
Mav 


1 

16 


By  B.  N.  Seymour 
'^  St'b't  Stock 

7,( 


By  Bal.  fr.  Old  % 


1 

2 


7,500 
126 


7,626 


126 


00 
00 


00 

00 


Dr. 


Cash, 


Cr. 


]S52. 

Apr. 


1852. 
May 


1 

7 

23 

26 

28 

30 


To  A.  Fitch 
"   State  B'k  Mo. 
"  Remittances 
"  Real  Estate 
"  Loans 
"   State  B'k  Stock 

9,12150 

To  Bal.  fr.  old  % 


1 

1 

o 

3 

o 
O 

3 


||1852. 

8,000'OO'Apr. 
500  00 


35 
364 

200 
25 


00' 
50i 

m 

00 


9,124 


683 


50 


85 


T 


1 

7 
9 

16 
20 

30 


By  State  B'k  Mo. 
"   St'b't  Stock 
"   A.  Fitch 
*'    Sundries 
"   Loans  8.41065 

M  Bal  to  New  % 


Dr. 


Coffin  &  Waite. 


1852. 

Apr. 


29 


To  State  B'k  Stock 


890 


00 


1852. 

Apr. 


By  A.  Fitch 


Dr. 


Silas  George  &  Son. 


1852.  i 

Apr.  26 


To  Real  Estate 


2,135 


50 


1852. 
Apr. 


100 


By  A.  Fitch 


8,000 

75 

50 

115 

200 

G83 


00 
00 
00 
65 
00 

85 


9,124 


50 


Dr. 

Bills  Receivable. 

Cr. 

1852. 

Apr. 

1 

To  A.  Fitch 

» 

1 

3,525 

50 

1852. 

Apr. 

16 

By  Sundries 

• 

2 

3,525 

50 

" 

Cr. 


890 


00 


Cr. 


2,135 


50 


Dr. 


LEGER,  SET  IV. 

Real  Estate  Pike  Co. 


Oi\ 


1862. 
Apr. 


i( 


<i 


5 
23 

30 


To  Sundries 
"  Remittances 

3.215.00 

"  Profit  ^Loss  {gain) 


3,000  00 
215  00 


785 


4,000 


00 


00 


1862. 

Apr. 


26 


By  Sundries 


4,000 


00 


4,000  00 


Dr. 


Bonds  &  Mortgages  Payable. 


Cr. 


1862. 
Apr, 


30 


To  Bal  to  New  % 


11,00000 


11,00000 


1852. 
Mav 


1852. 

Apr.  5 
9 


« 


By  Real  Estate 


u        u 


(( 


11.000.00 


By  Bal.  fr.  Old  % 


1 
2 


2,000  00 
9,000  00 


11,0^)00 
11,000  00 


Dr. 


Real  Estate  Main  St. 


Cr. 


1852. 

Apr. 


(( 


1852. 
May 


9  I  To  Sundries 
3  0  "  Profit  ^Lo88  (gain) 


2 

3 


1    To  Bal.  fr.  Old  % 


20,000  00 

8,10000 


23,100  00 


22,500  00 


11 


1852. 
Apr. 


(( 


27 

30 


By  State  B'k  Mo. 
'^Bal{Inv't)toNew% 


600  00 

2  2,5  00*0  0 


23,100  00 


Dr. 


Remitta7ices. 


Cr. 


1852. 

Apr. 


10 


To  State  B'k  Mo. 


250 


00 


1852. 
Apr. 


23 


By  Sundries 


f 
25000 


Dr. 


Profit  &  Loss. 


Cr. 


1852. 

Apr. 


(( 


It 


15 
30 


<< 


To  Neptune  Stock 
"  Int.&Dis. 

455.15 

**B.N.Seymour{^netgain) 
•'.4.  Filch  "  ««     «« 


2 
4 

1 
1 


450 
5 

2,17  4 
2,17  4 


""4,803 


00 
15 

10 
1  0 

35 


1852. 

Apr.  30 


By  Sultana  Stock  1 

"   Estate  Pike  Co.  3 

"       "      Main  St.  3 

"   Sioux  Stock  4 

"   State  B'k  Stock  4 


101 


750  00 

78500 

3,100  00 

63  3;i 

105OO 

4,80385 


Dr. 


LEGEE,  SET  IV. 

Steamboat  Sioux  Stock, 


1852. 

Apr. 


4( 


<t 


1852. 

May 


16 

30 


To  Sundries 
''   Bills  Pay. 

«« Profit  Sj'Lo89  (gain) 
To  Bal.  fr.  Old  % 


o 

ad 

2 

3 


il852. 

6,12000Apr. 
12600i 


6  3 


6,309 


6,000 


3  5i 


35 


00 


(« 


30 


By  State  B'k  Mo. 
^^Bal{Invt)toNew% 


Dr. 


Bonds  &  Mortgages  Rcceivahle. 


Cr, 


309 

6,0  0  0 


6,309 


35 

00 


35 


Dr. 

Interest  &  Discount. 

Cr. 

1852. 

Apr. 

1 

! 

16  To  Sundries 

29   "   State  B'k  Stock 

27.fi5 

2 
3 

1 
2115 

650 

1862. 
Apr. 

30 

By  Bills  Pay. 
"  Profit  ^^ Loss  (loss) 

8 

3 

22 

5 

50 

16 

:k 

27,65 

27 

65 

Dr. 

Loans.' 

Or. 

1852. 

Apr. 

20 

• 

To  Cash 

2 

200 

00 

1852. 

Apr. 

28 

By  Cash 

3 

200 

00 

Cr. 


1852. 

Apr. 


26 


To  Real  Estate 

•«*•■>■  . 


Dr. 


1,500 


00 


nk  of  Missouri  Stock. 


1852. 

Apr. 


« 


1852. 
May 


27 

80 


To  State  B'k  Mo. 
"  Profit  ^Lo88  {gain) 


To  Bal.  fr.  Old  % 


3 
3 


1,920 

105 


2,025 


500 


00 

00 


00 
00 


185f. 

Apr. 


i( 


29 
30 


/ 


Cr. 


By  Sundries 
"   Cash 

<^Balf{BCvt)toNew% 


/ 


1 


4 


3 
3 


1,500,00 
2r. 


i>00 


5  0  0  0  0 


2,025100 


102 


TRIAL  BALANCE,  LEGER,  SET  IV. 


L.F 
1 
1 
1 
1 

2 
2 
3 
3 
3 
3 
4 
4 
4 
4 


Dr. 


Cr. 


Bela  N.  Seymour  -        »        . 

Albert  Fitch      - 

State  Bank  of  Missouri  - 

Steamboat  Sultana  Stock    - 

Bills  Payable 

Cash  -        -        .        - 

Real  EstatePike  Co. 

Bonds  &  Mortgages  Payable 

Real  Estate  Main  St.     - 

Profit  &  Loss     -        -        . 

Steamboat  Sioux  Stock  - 

Interest  &  Discount    - 

Bonds  &  Mortgages  Receivable 

State  Bank  of  Missouri  Stock 


1 


1,240 
683 


INVENTORY-BOOK,  SET  IV. 


19,400 

450 

5,936 

5 

1,500 

395 


35 


85 


00 
00 
65 
15 
00 
00 


20,611^ 


I 


8,500 
8,450 

750 
126 

785 
11,000 


00 
00 

00 
00 

00 
00 


29,611 


00 


Property  remaining  unsold,  April  30th,  1852  : 
House  &  Lot,  No.  95  Main  St.,  valued  at 
One-Fourth  Steamboat  Sioux,         "       " 
10  Shares  State  Bank  of  Missouri  Stock,  @  350  pr.  Sh. 


I 


22,500  00 

6,000j00 

500,00 


29,00000 


»~f 


STATEMENTS,  SET  IV. 
The  total  gains  accruing  from  this  business  are        -        -        . 
losses      "  "       "        «        u 


t(         u 


$4,803.35 
"""'*""  455 15 

Making  the  firm's  net  gains -  $4  348  20 

Each  partner's  share  is  J  of  $4,348.20  =$2,174.10.  ' 

The  total  assets*  at  closing  are-        ~.        \        I        ~  «qo  /IO/i  oa 


liabilitiesf 


Net 


Making  the  firm's  net  capital  or  present  worth       -  $21  298.20 

capital  of  B  N  Seymour  at  commencing,  aa  pr.  credit  Bal.  of  his  %       -        .    $8  500  00 
Add  his  J  net  gams,  as  above '^^  .        _  S  174  |a 

His  net  capital  is -  $10,674.10 


Net 


capital  of  Albert  Fitch  at  commencing,  as  pr.  credit  Bal.  of  his  ^  -        -  «8  'Snn  nn 

Deduct  Am't  withdrawn  for  private  use  -        .        _    ^^'^^^  %       _    "    _    '        'f^^ 

Bal.  remaining  to  credit  of  his  <^   -        -        .        .  «q  ir.(\tu^ 

Add  his  J  net  gains,  as  alSve        -        .     ^i        .        ..."."      2m'l0 

His  net  capital  is        .......        .  $lo!624.10 


B  N.  Seymour  s  net  capital  or  present  worth      -  .        .        .            «^l  n  fi7  >i  i  n 

Albert  Fitch's       "         *^      ii       u          u  ?51O,674.10 

-  -        -        -        10,624.10 

Firm's  present  worth,  as  above  ... 


^21,298.20 


103 


STATEMENTS  (continued). 

^  Therefore : — 

In  a  partnership  business,  where  the  partners  invest  equal  net  capital,  do  a  gaining  business, 
&nd  share  alike  in  gains, 

Deduct  total  losses  from  total  gains — to  find  firm's  net  gains. 
^  Divide  firm's  net  gains  equally — to  find  each  partner's  net  gains. 

Deduct  total  liabilities  from  total  assets — to  find  firm's  present  worth. 

Add  each  partner's  i  net  gains  to  the  credit  balance  of  his  account — to  find  his  present  worth. 

The  present  worth  of  the  two  partners,  added  together,  must  equal  the  present  worth  of  the 
firm. 


i 


QUESTIONS  FOR  REVIEW,  SET  IV. 

Wherein  does  the  plan  pursued  in  Sets  IV  and  V  differ  from  the  Italian  method  ? 

What  does  the  general  rule  for  journalizing  now  become  ? 

Which  is  the  book  of  original  entry  ?     From  which  are  all  postings  made  ? 

Where  may  the  various  auxiliary  books,  omitted  in  this  Set,  be  found  ? 

Is  Set  IV  an  individual  or  partnership  business  ?     Prosperous  or  adverse  ? 

How  do  the  partners  share  in  gains  and  losses  ? 

Which  are  the  first  accounts  to  be  opened  on  the  Lcger,  in  partnership  books  ? 

How  does  the  closure  of  the  Leger  differ  from  the  closure  in  Sets  I,  II,  and  III  ? 

How  is  Profit  &  Loss  account  to  be  closed  ? 

When  and  for  what  purpose  is  the  Second  Trial  Balance  to  be  taken  ?     Of  what  will  it  consist? 

In  the  following  transactions  of  a  firm,  what  are  the  debits  and  credits — and  why  ? 

1st,  Investment  by  one  partner  of  cash  deposited  in  a  bank,  and  of  a  portion  of  two  steam- 
boats. [Bear  in  mind  that  in  Set  IV  a  Bank  account  is  kept  in  the  Leger.] — 2d,  Assumption 
by  the  firm  of  a  note  which  that  partner  owes. — 3d,  Investment  by  the  other  partner  of  cash, 
and  a  not 3  lie  holds  against  another  person. — 4th,  Assumption  by  the  firm  of  this  partner's 
indebtedness  to  two  dift'crent  persons. — 5th,  Deposit  of  cash  in  bank. — 6th,  Sale  of  portion  of 
a  steamboat  for  cash  deposited  in  bank. — 7th,  Purchase  of  a  farm  in  Pike  Co.,  and  payment  by 
a  check  on  the  bank,  and  by  the  firm's  notes  secured  by  mortgage  on  the  property. — 8th,  Draw- 
ing cash  from  the  bank,  pr.  check. — ^9th,  Payment  of  the  firm's  portion  of  repairs  of  steamboat. 
— 10th,  Payment  of  cash  to  a  partner  for  private  use. — 11th,  Purchase  of  a  house  and  lot  on 
Main  St.,  and  payment  by  portion  of  a  steamboat,  by  check  on  bank,  and  by  the  firm's  note 
Becured  by  mortgage. — 12th,  Draft  of  money  from  bank,  and  remittance  of  it  abroad,  to  an 
agent,  to  be  used  by  him  as  directed. — 13th,  Sinking  of  a  steamboat  partly  owned  by  the  firm, 
and  receipt  of  cash  for  the  portion  covered  by  insurance — balance  lost. — 14th,  Purchase  of  por- 
tion of  a  steamboat,  and  payment  by  a  note  which  the  firm  holds  against  another  person,  by 
check  on  bank,  and  by  cash — the  note  not  being  yet  due,  and  the  firm  allowing  a  discount 
thereon. — 15th,  Issuing  the  firm's  note  for  insurance  on  their  portion  of  a  steamboat. — 16th, 
Loan  of  cash. — 17th,  Receipt  from  an  agent  abroad  of  a  portion  of  the  money  previously 
remitted  to  him,  with  information  that  he  has  used  the  balance  in  making  repairs  on  farm  in 
Pike  Co. — 18th,  Sale  of  farm  in  Pike  Co.,  and  receipt  of  payment  by  offset  of  an  account  we 
owe,  by  cash,  and  by  another  person's  note  secured  by  mortgage. — 19th,  Purchase  of  stock  in 
bank  by  check  on  the  bank. — 20th,  Deposit  in  bank  of  money  received  for  rent  of  house  and 
lot  on  Main  St. — ^21st,  Return  of  money  loaned  out. — ^22d,  Sale  of  bank  stock,  and  receipt  of  pay- 
ment by  canceling  the  firm's  indebtedness  to  another  person,  by  interest  thereon,  and  by  check 
of  another  person  deposited  in  bank. — 23d,  Receipt  of  cash  for  dividend  on  bank  stock. — ^24th, 
Receipt,  pr.  check  deposited,  of  a  portion  of  the  net  proceeds  of  steamboat's  trip  to  New 
Orleans. — ^25th,  Discount  of  firm's  note,  and  payment  of  amount  (less  discount)  by  check  on 
bank. 

What  are  the  total  gains  of  the  firm  in  Set  IV  ?    Total  losses  ?    Net  gains  ? 

What  is  each  partner's  share  of  net  gains  ?     How  found  ? 

What  are  the  total  assets  of  the  firm  ?     Total  liabilities  ?     Net  capital  ? 

What  is  the  net  capital  of  B.  N.  Seymour  ?     How  ascertained  ? 

What  is  the  net  capital  of  Albert  Fitch  ?     How  ascertained  ? 

In  such  a  business  as  Set  IV  represents,  how  can  you  find  the  firm's  net  gains  ?  How  each 
partner's?  How  can  you  find  the  firm's  present  worth ?  How  each  partner's?  What  must 
the  present  worth  of  the  two  partners,  added  together,  equal  ? 

104 


TIxMOTHY  H.  PORTER  &  CO. 

SET  Y. 

PRODUCE^  GROCERY,  AND  DOMESTIC   SHIPPING 
'  ;»  »        BUSINESS. 


[S«  page  92  Ibr  ImtnicHoM  for  wilHiij  up  thi.  S«l.l 


0 


105 


jCi-A-HA-jA  , 


HISTORY  AND  ELUCIDATIONS,  SET  Y. 

Cincinnati,  June  \st,  1852. 

Timothy  H.  Porter,  David  Harrington  and  George  Anderson  havo  this  day  formed  a 
partnership  to  conduct  a  produce,  grocery  and  domestic  shipping  business.  Porter 
and  Harrington  are  to  furnish  the  capital  as  agreed,  and  to  receive  interest  thereon ; 
and  each  is  to  share  two-fifths  of  the  gains  or  losses.  Anderson  is  to  share  one- 
fifth  of  the  gains  or  losses.     Title  of  ^vm—'' Timothy  H,  Porter  ^'  Co/' 

T.  H.  Porter  invests  in  Cash  $10,000. 


David  Harrington  invests  in  Cash  $10,000,  and  in  Mdse.,  pr.  Invoice,  $3,125. 
He  owes  on  Bills  Payable,  pr.  B.-B.,  which  the  Firm  assume,  $2,238.36. 

Making  his  Net  Capital  $10,886.64. 

T.  H.  Porter  produces  the  firm  value  in  Cash.  ,  ,, ,       ,         .   ,  ,  .  *       i       •«  i»:n- 

David  Harrington  produces  the  firm  value  in  the  Cash  and  Mdse.  invested ;  and  he  costs  value  in  ISiUi 

Payable,  assumed  by  the  firm.  ,        .  •        ,  •  l   \.     ix  x. 

George  Anderson  requires  neither  a  debit  nor  a  credit  at  this  time ;  but,  in  posting,  his  account  should  be 
the  third  opened  in  the  Leger,  that  the  partner's  accounts  may  stand  together. 

JjSiS*  No  Bank  account  i»  kept  in  the  Lpger  tit  thin  Set.. 


2d 


Sold  to  Booth  &  Plumley  150  Bbls.  Mess  Pork  @  $9.50 ;  and  100  Bbls.  Lard, 
20,000  lbs.  @  6y--total  Am't  $2,675.  ^ 

Rec'd,  in  payment,  14  Hhds.  Sugar,  15,400  lbs.  @  6/;  David  Harrirgtons  Note, 
their  favor,  assumed  by  the  Firm  at  commencing  business,  due  29th  inst.,  for 
$1,500 ;  and  Cash  for  Bal.  of  Sale  and  for  Discount  on  Note,  $257.75. 

Discount  on  David  Harrington's  Note  for  27  days  is  $6.75. 

Mdse.,  Bills  Payable  and  Cash  have  cost  value.    Mdse.  and  Discount  have  produced  value.    The  entry 
will  be  commenced  "  Sundries  To  Sundries." 


—    3d 


Paid  in  Cash  David  Harrington  s  Note,  favor  of  Charles  Elliott  &  Bro.,  assumed  by 
the  Firm  at  commencing  business,  dated  Mar.  2d,  @  90  days,  with  Int.  from  date. 
Am't  of  Note  $738.36— Int.  93  days  (including  Grace). 

Reckon  the  interest  on  this  note  first,  and  then  make  the  proper  entry.    Bills  Payable  and  Interest  have 
cost  value,  and  Cash  has  produced  value. 


« 


Bought  of  Joseph  Suydam  k  Co.  125  Bbls.  Superfine  Flour  @  $4.25 ;  100  Bbls. 
Extra  Mess  Pork  @  $9 ;  600  Bbls.  Mess  Beef  @  $11 ;  100  Bbls.  Prime  Beef  @ 
$8.50 ;  50  Bbls.  Beef  Hams  @  $16 ;  50  Bbls.  Pearl  Ashes  @  $4.30— total  Am't 
$9,896.25.  .  ,     ^  , 

Paid  in  part  by  14  Hhds.  Sugar,  15,400  lbs.  @  6'/ ;  and  Cash  for  the  Balance. 

Mdse.  has  cost  value  in  Mdse.  and  Cash.  ,     ,    ,  .,,...    ^    .      xi. 

In  such  cAses  as  this,  Mdse.  might  be  considered  as  costing  only  the  balance  paid  for  it  in  Cash— the  entry 
would  then  be  "  Mdse.  Dr.  To  Cash  $8,895.25  ;"  but  the  better  way  is  to  debit  Mdse.  the  full  amount  $9,896.25, 
and  credit  Mdse.  and  Cash ;  thus  letting  the  Mdse.  account  show  the  entire  dealings  in  Mdse. 


4th 


Shipped  pr.  Steamboat  Crescent  City,  Forbes  master,  and  consigned  to  Goodhue  &  Co., 
New  Orleans,  to  be  sold  on  our  account  and  at  our  risk,  125  Bbls.  Superfine  Flour 
@  $4.25 ;  200  Bbls.  Mess  Beef  @  $11. 

Paid  Drayage  in  Cash  $10.25. 

Passed  our  Note,  @  30  days,  to  the  Western  Insurance  Co.,  for  Ins.  on  $2,777.22  @ 

1*  %  and^for  Policy  $1. 

Goods  sent  abroad  to  bo  sold  for  your  account  must  not  be  debited  to  the  consignee,  but  must  have  a  specifle 
heading  or  title,  under  which  to  keep  an  account  of  them  ;  just  as  goods  at  home  have  the  title  of  "  Merchan- 
disc  "  The  title  usually  assumed  is  *' Shipment"  or  "Adventure"  to  such  a  place  or  to  such  a  party.  You 
may  call  this  "Shipment  to  New  Orleant,"  which  account  has  cost  value  in  the  amount  paid  for  the  goods, 
and  in  the  expenses  attending  the  shipment  of  the  same. 

Sundries :— to  wit,  Mdse.,  Cash,  and  Bills  Pay.,  have  produced  value. 

ps^  Explain  fully  every  debit  and  credit  made  in  the  Day-Book. 

—    5th    — -^ 

Paid  Cash  for  sundry  Repairs  of  Store  $30. 

106 


HISTORY  AND  ELUCIDATIONS,  SET  Y. 

Cincinnati,  June  1th,  1852. 

Bought  of  Claremont,  Smith  &  Co.,  on  %,  200  Bbls.  Mess  Beef  @  $11.12^. 
7th 


Shipped  pr   Steamboat  Henry  Clay,  Gaines  master,  and  consigned  to  Osterhaut  k 

Qn^^li     U    '  *^  \  '^I'l'l  ''"''  ^^^^"°*  ^^^  ^^^'  ^^  ^bls.  Pearl  Ashes  @  $4.30 
JOO  Bbls.  Mess  Beef  @  $11. 12^.  ^ 

^tnd^for  Pdi?^^^^^      ^^ '  ^^"'^  *""  ^^^  ^^^  Insurance  Co.,  for  Ins.  on  $2,480  %V% 


You  may  term  this  "Adventure"  instead  of  "Shipment,"  to  show  variety. 
^Uceutme  to  Jlobtle  has  cost  value  in  Mdse.  and  Cash. 


11th 


Rec'd  pr.  Steamboat  Isaac  Newton,  Manning  master,  from  Van  Deursen  &  Co.,  N.  0 

f^r' ^aVjuTX^'^'^'S^  ^^  "''  *^  wit:~30  Hhds.  N.  0.  Molasses,  3,000  Gals.  @ 
25/^ ;  30  Hhds.  N.  0.  Sugar,  30,750  lbs.  @  4^.  ^ 

Paid,  m  Cash,  the  Freight,  Drayage,  &c.  on  above  Mdse.  $96. 


12th 


Purchased  for  Cash  of  Bowen  k  Bros.,  of  this  City,  their  Bill  of  Exchange  on 
Lafitte  &  Da  ton,  N.  0.  and  remitted  the  same  this  day  to  Van  Deursen  &  Co.,  in 
payment  of  Am't  due  them,  $2,133.75.     Paid  J  %  Prem.  for  the  Bill. 

First  calculate  the  premium  on  $2,133.75  @  i%,  and  then  make  the  entry. 

Van  Deursen  &  Co.  and  Premium  have  cost  the  firm  value.     Cash  has  produced  value. 


14th 


Bought  of  Daniel  Liebrand  &  Co.,  on  our  Note  @  4  mos.,  2,500  Bush.  Ohio  Wheat 
delivered  on  board  the  Steamboat  Buena  Vista,  Taylor  master,  @  $1.03  per  Bush 
and  shipped  the  same  to  Austin  &  Spicer,  Galveston,  Texas  To  be  sold  for  ou^ 
account  and  risk. 

^'®  ly/a^d'for®  Jh/Ti  *°  ^^^  Cincinnati  Mutual  Ins.  Co.,  for  Ins.  on  $2,608.61 

Shipment  to  Galveston  has  cost  value  in  Bills  Payable. 


17th 


^^.1?  P^l!iri?.^^i'^2^^^n^.^^  Gals.  @  27/;  100 

including  Discount, 

Cash  and  Bills  Receivable  have  cost  the  firm  value.     Mdse.  and  Discount  have  produced  value 


18th 


^  &To'^STl™000'  ^"^'^^  ^  ^''*''  ^'^^^ '''' ""''  ®  ^^  ^^^''  '^S^'*>  ^^^^"  ^^  ^^^l^°d 

Claremont,  Smith  &  Co.  have  cost  the  firm  value  in  Bills  Payable. 

■~ 23d  — 

Shaped,  pr.  Steamboat  Ben  Franklin,  to  T.  W.  Boswell  &  Co.,  Vicksburg.  for  their 

%,  and  pursuant  to  their  order,  150  Bbls.  Mess  Beef  @  $11.50. 
raid  Drayage  in  Cash,  $4.75. 


3      HISTORY  AND  ELUCIDATIONS,  SET  V. 

Cincinnati,  June  25th,  1852. 

Rec'd  intelligeDce  that  the  Steamboat  Buena  Vista,  on  which  we  made  a  Shipment  on 
the  14th  inst.,  was  wrecked  in  the  Gulf  of  Mexico  on  the  20th  inst., — ^Boat  and 
Cargo  total  loss. 

This  is  a  mere  memorandnm,  to  prepare  yoa  for  the  entry  of  the  29th  inst,  and  showing  that  in  the  •curse 
of  business  the  firm  would  now  receive  this  information.    U  require*  ho  Day-Book  entry. 


26th 


Discounted  our  Acceptance  of  the  18th  inst.,  @  30  days*  sight,  Oakland  &  Co.'b 

favor,  Am't  $1,000. 
Discount  for  25  days  on  $1,000  is  $4.17 — Bal.  paid  in  Cash. 

Bills  Payable  has  cost  value  in  Cash  and  Discount. 


28th 


Paid  George  Anderson  Cash  for  private  use  $200. 
29th  


The  Cincinnati  Mutual  Ins.  Co.  has  failed,  and  is  able  to  pay  but  10/  on  the  dollar, 
of  its  indebtedness.  Accordingly  we  have  received  from  the  Assignees  10^  on 
the  Am't  of  our  Ins.  on  Ship't  to  Galveston  of  14th  inst.,  pr.  Steamboat  Buena 
Vista,  which  was  wrecked  in  the  Gulf  of  Mexico  on  the  20th  inst. — Boat  &  Cargo 
total  loss. 

Am't  insured  $2,608.61  @  10%  =  $260.86,  for  which  we  received  our  Note  of  14th, 
@  15  days,  $33.61 ;  and  Cash  for  Bal. 

The  loss  of  goods  belonging  to  Shipment  to  Galveston  is  the  means  of  the  firm's  receiving  $260.86.    Ship- 
ment to  Galveston  has  therefore  produced  the  firm  that  amount  of  value  in  Bills  Payable  and  Cash. 


(( 


Rec*d  an  Account-Sales  from  Osterhaut  &  Evans,  Mobile,  of  Ashes  and  Beef  sent 

them  on  the  7th  inst.     Net  proceeds  $2,976.15. 
Rec'd  also  a  Draft,  remitted  by  them,  on  Biddle  Brothers,  at  sight  (for  part  proceeds), 

which  has  been  paid  in  Cash,  $1,500.00. 

An  Account-Sales  is  a  detailed  statement  of  the  sales  of  goods,  and  of  the  charges  attending  the  same. 
Adventure  to  Mobile  has  here  prudaced  value  in  Cash,  and  in  the  indebtedness  of  Osterhaut  <fc  Evans  for  the 
portion  of  proceeds  still  in  their  hands. 


30th 


Rec'd  an  Account-Sales  from  Goodhue  &  Co.,  New  Orleans,  of  200  Bbls.  Mess  Beef, 
belonging  to  Ship't  to  them  of  4th  inst.     Net  proceeds  $2,380.86. 

Shipment  to  New  Orleans  has  produced  value  in  the  indebtedness  of  Goodhue  A  Co. 


u 


Paid  Cash  for  Rent  of  Store  $75 ;  for  Clerk  hire  $100 ;  for  Laborers  $38. 


« 


Due  to  Timothy  H.  Porter  for  Int.  on  Capital  invested,  $10,000,  for  one  mo.,  $50. 
"     "  David  Harrington    "      "    "        "        ^  "         $10,886.64     "     "     $54.43. 

Interest  has  cost  the  firm  value  in  their  indebtedness  to  each  of  these  two  partners. 

I.  H.  Porter,  and  David  Harrington  have  each  produced  the  firm  value  in  the  use  of  capital  invested. 


108 


TRIAL  BALANCE,  LEGER,  SET  V. 


D 


r. 


L.F 
1 
1 
1 
1 
2 
2 
2 
2 
3 
3 
3 
8 
4 
4 
4 
4 


Timothy  TI.  Porter    - 

David  Harrington  - 

George  Anderson 

Cash      -        -        -        .        . 

Merchandise 

Bills  Payable  .         .         . 

Interest,  Discount  &  Premium 

Shipment  to  New  Orleans 

Store  Expenses  -         -        - 

Claremont,  Smith  &;  Co.  - 

Adventure  to  Mobile  - 

Shipment  to  Galveston    - 

Bills  Receivable 

T.  W.  Boswell  &  Co.       - 

Osterhaut  &  Evans     - 

Goodhue  &  Co.       -        -        - 


INVENTORY-BOOK,  SET  V. 


Property  remaining  unsold  June  30th,  1852 : 
Merchandise, 
175  Bbls.  Mess  Pork 
150     "         "     Beef 
50       «     Beef  Hams 
30  Hhds.  N.  0.  Sugar,  30,750  lbs. 
10      "        "      Molaases,  1,000  Gals. 


Shtp^t  to  New  Orleans^ 
125  Bbls.  Superfine  Flour 


STATEMENTS,  SET  V. 


The  total  losses  of  the  firm  in  this  business  have  been 
"        "     craina  "     "      "     ♦<     «  u  u        u 


gams 


200 
9,906 
5,237 

96 


00 
04 

75 

54 


396  36 
243  00 


1. 


2,347 

1,308 
1,720 
1,476|15 

2,380|86 


74 

75 


25,82294 


25,322194  f 


r 


@  $9.00 
11.00 
16.00 
"        .043 
"        .26' 


1,575  00 

1,650'00 

800J00 

1,460  63 


a 


4.25 


%» 


Making  the  firm's  net  losses    - 

Timothy  H.  Porter's  share  is  f  =  $618.35 
David  Harrington's  "  "  |.==  $618.35 
George  Anderson's       "      «<  |  =  $309.17 


-  $2,687.29 

1,141.42 

-  §1,545.87 


The  total  assets  of  the  firm  at  closinff  are 
"      «    liabilities"      "     «       «        « 


-        -        -        -        -  $23,080.92 

3,835.72 

Making  the  firm*8  net  capital  or  present  worth  $19,245.20 


109 


^.. 


STATEMENTS  {continued). 

Timothy  II.  Porter  invested  at  commencing  -        -        - 

Add  interest,  as  agreed 

Total  credit  to  liis  account  - 
Deduct  his  |  net  losses,  as  before   -        -        -        - 

His  net  capital  is         -        -        - 


$10,000.00 
50.00 

$10,050.00 
618.35 

$9,431.65 


Da\ad  Harrington  invested,  at  commencing,  a  net  capital  of 
Add  interest^  as  agreed     -         -         -         -         - 

Credit  balance  to  his  account  - 
Deduct  his  f  net  losses,  as  before       -        -        - 

His  net  capital  is   - 


*  $10,886.64 
54.43 

-  $10,941.07 

618.35 

-  $10,322.72 


George  Anderson  has  drawn  out  for  private  use,  as  pr.  total  debit 

to  his  account     -------  $200.00 

Add  his  i  net  losses,  as  before    -----         309.17 

His  net  insolvency  is        -        -        -        -  $509.17 


A  lA  f  Porter's  net  capital  or  present  worth 

^'*^  \  Harrington's    "       "         u        u         .        . 

<.    .      ■ 

Deduct  Anderson's  net  insolvency     - 

Firm's  present  worth,  as  before 


$9,431.65 
10,322.72 

$19,754.37 
509.17 

$19,245.20 


Therefore: — 

In  a  partnership  business  with  three  partners,  like  the  present,  in  which  two  of  the 
partners  invest  the  capital,  while  the  other  partner  invests  nothing,  but  draws  out  for 
private  use,  an4  they  do  a  losing  business, 

Deduct  total  gains  from  total  losses — to  find  the  firm's  net  losses. 
Divide  firm's  net  losses,  according  to  the  original  agreement — to  find  each  partner's 
share  of  net  losses. 

Deduct  total  liabilities  from  total  assets — to  find  the  firm's  net  capital. 

Deduct  the  net  losses  of  each  partner  who  invests  capital  from  the  credit  total,  or 
balance,  of  his  account — to  find  his  net  capital  at  closing. 

Add  the  net  losses  of  the  partner  who  makes  no  investment  to  the  debit  total  for 
balance)  of  his  account — to  find  his  net  insolvency  at  closing. 

Deduct  the  net  insolvency  of  one  partner  from  the  sum  total  of  the  net  capitals  of  the 
other  two — to  find  the  firm's  net  capital — which  must  agree  with  the  difi*erence  between 
the  firm's  assets  and  liabilities. 


Kate— It  will  be  Ken  that  the  net  capital  of  Porter  and  of  TTarrin^n  com ists  in  part  of  the  indebtedness  cf  Anderson  to  the  firm. 

110 


DETECTION  AND   CORRECTION  OF  ERRORS. 

Much  has  been  said  and  written  about  the  detection  of  errors  in  Book-keeping,  and 
many  so-called  infallible  schemes  have  been  put  forth,  by  which  to  discover  at  a  glance 
whether  an  error  exists,  and,  if  so,  to  trace  it  to  its  origin.  But  no  plan  has  yet  come 
before  the  public  which  will  bear  the  test  of  rigid  scrutiny ;  and  the  only  certainty  of 
accuracy  in  every  respect  appears  to  be  an  examination  of  items  in  detail.  The  Trial 
Balance  is  the  best  short  test  of  correctness  in  posting  yet  discovered,  and  this  is 
defective,  inasmuch  as  errors  may  exist  while  the  Trial  Balance  is  apparently  entirely 
correct : — such  as  posting  to  the  wrong  account,  although  on  the  right  side ;  omitting  to 
post  a  debit  and  a  credit  of  equal  amount,  &c.  But  if  the  Trial  Balance  is  not  in  equi- 
librium, there  is  certainly  an  error,  which  must  be  sought  and  corrected. 

Detection, 

Ist.  See  whether  the  pencil  footings  on  the  Leger,  made  preparatory  to  taking  the 
Trial  Balance,  are  correct,  and  whether  the  balances  of  the  different  accounts  have  been 
transferred  into  the  Trial  Balance  rightly. 

2d.  If  there  is  still  an  undiscovered  error,  examine  each  post  separately,  checking 
the  entries  in  both  Journal  and  Leger  as  you  proceed,  until  you  have  been  over  the 
whole ;  and  then  look  through  again,  to  see  if  any  amount  remains  unchecked,  and,  if 
80,  investigate  the  cause  of  the  omission. 

In  this  manner,  you  can  scarcely  fail  to  discover  the  mistake,  provided  the  Journal  is 
correct ;  but  great  care  should  be  taken  to  see  that  the  Journal  is  in  equilibrium  before 
posting,  as  any  discrepancy  there  will  give  you  much  trouble  in  the  Leger. 

Correction, 

In  the  Day-Book  (or  any  other  book  of  original  entry)  erasures  are  not  admissible, 
since  this  book  is  taken  as  evidence  in  courts  of  justice,  and  any  thing  obliterated  or 
erased  looks  suspicious,  would  probably  render  invalid  the  entry  with  which  it  is  con- 
nected, and  in  some  cases  might  even  throw  the  whole  book  out  of  court,  as  evidence 
unfit  to  receive.  Errors  in  it  should  therefore  be  corrected  by  making  other  entries 
explaining  them ;  or  the  erroneous  entry,  if  it  has  not  been  journalized,  may  be  marke<l 
"Void,"  and  remain  without  further  alteration,  a  new  and  correct  entry  being  made  of 
the  transaction. 

In  the  Journal,  erasures  are  sometimes  admissible,  although  it  is  generally  advisable 
to  treat  errors  as  directed  for  the  Day-Book. 

In  the  Leger,  if  an  entry  be  posted  to  the  wrong  account,  or  to  the  wrong  side  of  the 
account,  make  ciphers  of  the  figures,  and  leave  the  remainder,  so  as  not  to  deface  the 
Leger;  then  post  the  entry  to  its  proper  place.  If  a  wrong  amount  be  posted,  alter  it 
to  the  right.  And  if  a  duplicate  post  be  made,  make  ciphers  of  the  figures  in  the 
erroneous  one. 


QUESTIONS  FOR  REVIEW,   SET  V. 

TIow  many  partners  in  Set  V  ?  *J 

IIow  do  they  share  in  gains  and  losses  ?       I  -ci  i 

How  many  of  the  partners  invest  capital  ?  (  *^°^  answers  to  these  questions,  see  page  92. 

Is  it  a  gaining  or  losing  business  ?  J       . 

In  the  following  transactions  of  a  firm,  what  are  the  debits  and  credits — and  why? 

Ist,  Investment  of  cash  by  one  partner.— 2d,  Investment  by  another  partner  of  casjh  and 

Mdse. — 3d,  Assumption  by  the  firm  of  notes  outstanding  against  that  partner. 4th,  Sale  of 

Mdse.,  and  receipt  of  payment  by  :Mdse.,  by  a  note  of  the  firm  outstanding,  and  by  (ish— the 
note  not  being  yet  due,  and  they  being  allowed  a  discount  thereon.— 5th,  Payment  in  cash  of 
the  firm's  note  with  interest  on  same  from  date.— 6th,  Purchase  of  Mdse.  for  Mdse.  and  cash 


QUESTIONS  FOR  REVIEW  {continued). 

— ^7th,  Shipment  of  Mdse.  to  New  Orleans,  to  be  sold  for  account  of  the  firm,  and  payment  of 
drayage  on  same  in  cash,  and  of  insurance  by  firm's  note. — 8th,  rurchasc  of  Mdse.  on  account. 
— ^9th,  Shipment  of  Mdse.  to  Mobile  to  be  sold  for  account  of  the  firm,  and  payment  of  drayago 
and  insurance  on  same  in  cash. — 10th,  Receipt  of  Mdse.  previously  ordered  from  abroad,  but 
not  paid  for,  and  payment  of  freight,  drayage,  &c.  on  same  in  cash. — 11th,  Purchase  for  ca&li, 
@  i%  premium,  of  a  bill  of  exchange,  and  remittance  of  same  to  pay  an  account  which  the 
firm  owe. — 12th,  Purchase  of  wheat  by  firm's  note,  and  shipment  of  game  to  Galveston  to  bo 
sold  for  their  account,  insurance  thereon  being  also  paid  by  their  note. — 13th,  Sale  of  Mdse.  at 
cash  price,  receiving  part  cash,  and  for  the  balance  a  note  suflBcicntly  large  to  cover  discount 
thereon,  so  as  to  make  it  equal  to  cash. — 14th,  Acceptance  by  the  firm  of  a  draft  on  them. — 
15th,  Shipment  of  Mdse.  to  another  person,  pursuant  to  his  order  and  for  his  account;  and 
payment  of  drayage  in  cash. — 16th,  Discounting,  by  the  firm,  of  their  acceptance  outstanding. 
— 17th,  Payment  of  cash  to  a  partner  for  private  use. — 18th,  Receipt  of  the  firm's  note  and 
cash  from  an  Insurance  Co.,  for  10  %  on  the  amount  insured  on  goods  shipped  to  Galveston, 
which  have  been  wrecked. — 19th,  Receipt  of  an  account-sales  of  goods  consigned  abroad,  ai>- 
companied  by  a  draft  for  a  portion  of  the  amount,  which  you  immediately  convert  into  cash. — 
20th,  Receipt  of  an  account-sales  without  any  remittance. — 21st,  Payment  of  store  rent  and 
clerk  hire  in  cash. — ^22d,  Allowance  of  interest  to  two  partners  on  capital  investiMl 

What  are  the  total  losses  of  the  firm  in  Set  V  ?     The  total  gains  ?     The  net  losses  ? 

What  is  Porter's  share  of  the  net  losses?  What  is  Harrington's  share?  What  is  Anderson's 
share  ? 

What  are  the  total  assets  of  the  firm  ?     The  total  liabilities  ?    The  net  capital  ? 

What  is  the  net  capital  of  Timothy  H.  Porter  ?     How  ascertained  ? 

What  is  the  net  capital  of  David  Harrington  ?     How  ascertained  ? 

What  is  the  net  insolvency  of  George  Anderson  ?     How  ascertained  ? 

What  is  the  balance  resulting,  by  deducting  Anderson's  net  insolvency  from  the  amount  of  Porter 
and  Harrington's  net  capitals  added  together  ? 

[n  such  a  business  as  Sot  V  represents,  how  can  you  find  the  firm's  net  losses  ?  How  each  part- 
ner's ?  How  can  you  find  the  firm's  net  capital  ?  How  can  you  find  the  net  capital  of  each 
partner  who  invests  capital  at  starting?  How  the  net  insolvency  of  the  partner  who  makes  no 
investment,  but  draws  out  funds  for  private  use  ?  If  you  deduct  the  net  insolvency  of  one 
partner  from  the  sum  total  of  thQ  net  capitals  of  the  other  two,  what  will  the  difiercnce  show : 
— ^with  what  must  it  agree  ? 


BALANCE    SHEETS 


AND 


LEGER    ACCOUNTS 


QUESTIONS  ON  DETECTION  AND  CORRECTION  OF  ERRORS. 

Has  any  short  and  infallible  method  been  discovered  for  detecting  errors  in  bocks  ? 

What  affords  the  only  certainty  of  accuracy  in  keeping  books  ? 

What  is  the  best  short  test  of  correctness  in  posting  yet  discovered  ? 

Why  is  this  test  defective  ? 

Mention  some  errors  that  may  exist  when  the  Trial  Balance  is  apparently  correct 

If  the  Trial  Balance  is  not  in  equilibrium,  what  may  you  be  certain  of? 

Explain  how  to  detect  errors  made  in  posting,  or  taking  a  Trial  Balance. 

How  should  an  error  be  corrected  in  the  Day-Book  ? 

How  should  an  error  be  corrected  in  the  Journal  ? 

How  should  an  error  be  corrected  in  the  Leger  ? 


118 


112 


i 


BALANCE  SHEETS  EXPLAINED. 

Take  a  sheet  of  unruled  foolscap  or  letter  paper,  and  draw  a  double  red  line  around 
it  close  to  the  edge,  for  a  border ;  then  draw  a  pencil  line  across  the  sheet  lengthwise, 
about  three-quarters  of  an  inch  from  the  border  on  one  side  ;  follow  this  with  two  other 
pencil  lines,  one-half  that  distance  apart ;  then  draw  a  double  red  line  under  the  first 
and  last  pencil  lines.     This  serves  for  a  heading. 

For  ^^  Stock"  Sheets,  commence  under  this  heading,  and  rule  enough  lines,  with 
pencil,  to  receive  all  the  accounts  in  your  Trial  Balance,  and  leave  eight  extra.  Now  turn 
the  sheet,  so  that  the  heading  will  be  at  your  left,  and  commence  ruling,  with  red  ink, 
the  money  columns,  after  the  pattern  shown  on  the  following  page,  dropping  three  lines 
after  "Balance,"  two  after  "Stock,"  two  after  "Profit  &  Loss,"  and  one  after  "Face 
of  Leger."     Next  rule  the  footing  and  closing  lines  at  the  bottom  of  the  columns. 

In  "'Partnership  '  Sheets,  for  two  partners,  rule  twelve  more  pencil  lines  from  the 
heading  than  your  Trial  Balance  contains  accounts ;  then,  in  ruling  for  the  money 
columns,  drop  four  lines  after  "Balance,"  two  after  the  first  partner,  two  after  the 
second  partner,  three  after  "  Profit  &  Loss,"  and  one  after  "  Face  of  Leger."  For 
three  partners,  rule  sixteen  extra  pencil  lines ;  and,  in  ruling  for  the  money  columns, 
drop  five  lines  after  "  Balance,"  two  after  the  first  partner,  two  after  the  second,  two 
after  the  third,  four  after  "Profit  &  Loss,"  and  one  after  "Face  of  Leger." 

Having  prepared  your  Sheet  thus,  and  made  the  proper  headings  to  it,  first  bring 
into  it  the  Trial  Balance  of  your  Leger,  which,  you  will  now  observe,  is  cjilled  in  the 
Balance  Sheet,  "  Face  of  Leger." 

Next,  enter  to  each  property  account  the  property  remaining  unsold,  as  pr.  Inventory- 
Book;  placing  the  amount  in  small  red  ink  figures  in  "Face  of  Leger"  column,  on  the 
credit  side,  immediately  below  the  line  containing  the  difierence  of  ^aid  account ;  and 
making  the  opposite  entry  in  "  Balance"  column,  on  the  debit  side,  in  black  ink.  At 
this  state,  the  sheet  is  like  the  Leger  when  ready  to  close. 

You  will  now  transfer  the  difierence  of  Stock,  as  shown  in  the  "  Face  of  Leger,"  into 
the  column  appropriated  for  it,  headed  "  Stock  ;"  then  follow  with  the  next  account  in 
order,  taking  its  diff'erence  into  "Profit  &  Loss,"  or  "Balance,"  agreeably  to  its  nature; 
and  thus  continue  until  all  the  accounts  in  the  "Face  of  Leger"  have  been  transferred. 
In  each  speculating  property  account  which  has  a  balance  of  property  unsold,  as  shown 
by  the  red  ink  entry  in  "  Face  of  Leger"  column,  this  balance  must  be  counted  in  as  a 
credit  to  the  account,  and  then  the  difference  must  be  transferred  into  "Profit  k  Loss.** 
After  finishing  all  these  transfers,  "Stock,"  "Profit  &  Loss,"  and  "Balance"  only 
remain  open,  and  the  Balance  Sheet  corresponds  to  the  Leger  when  ready  for  taking 
the  Second  Trial  Balance. 

Finally,  close  "Profit  &  Loss"  into  *< Stock,"  when  the  differences  of  the  "Stock" 
and  "Balance"  columns  should  just  equal  each  other,  and  should  both  show  your  Net 
Capital,  or  Net  Insolvency. 

Footing  up  these  columns  completes  the  Balance  Sheet,  which  will  now  be  found  to 
agree  with  your  Leger  when  closed. 


Balance  Sheets  are  given  for  Sets  I  and  IV.        You  may  make  these  out  for  youp- 
self,  and  also  make  those  for  Sets  II,  III  and  V. 

Note. — When  the  personal  accounts  are  numerous,  they  may  be  summed  up  together, 
under  two  heads,  "Personal  %j  due  me,"  "Personal  %^  I  owe."    See  page  168  High 
School  edition,  or  238  Counting-House  edition. 

114 


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Bonds  &  Mortgages  Paj/ 
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Profit  &  Loss 
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116 


LEGER  ACCOUNTS. 


If  you  have  "vrritten  up  the  several  preceding  Sets  of  books,  individual  and  partnership,  you  have 
been  made  acquainted  with  the  mainjacts  wad.  principles  which  govern  the  science  of  Double  Entry 
Book-keeping,  in  journalizing,  posting,  opening  and  closing  Legers,  and  making  out  exhibits  there- 
from. Before  proceeding  further,  it  will  be  well  to  note  the  application  of  these  principles  to  the 
different  Leger  accounts,  tracing  out  the  reasons  for  every  debit  and  credit  therein  contained,  and 
thereby  fixing  in  the  mind  such  facts  as  are  necessary  to  guide  you  in  your  future  progress.  I  shall, 
therefore,  here  furnish  a  concise  explanation  of  the  various  accounts  which  occur  in  the  more  simple 
business  operations,  omitting  such  as  pertain  exclusively  to  Shipping  and  Commission  business  for  & 
subsequent  part  of  the  Counting-Uouse  edition. 

Observe  the  fact,  that  the  rule ^or  journalizing  is  constantly  applied  in  these  explanations;  thus 
showing  that  it  is  not  only  of  utility  as  an  assistant  in  journalizing,  but  is  the  main  key  for  unlocking 
aU  the  treasures  of  the  science. 

Cash, 

The  Cash  account  is  kept  to  show  the  amount  of  cash  received,  the  amount  paid  out, 
and  the  balance  on  hand  at  any  time. 

Cash  costs  value,  and  is  debited,  when  it  is  received ;  consequently,  the  debit  side 
shows  the  amount  received. 

Cash  produces  value,  and  is  credited,  when  it  is  paid  out ;  consequently,  the  credit 
%\diQ  ^hoYT^  the  amount  paid  out. 

The  balance  on  hand  is  ascertained  by  deducting  the  total  cmlit  from  the  total  debit. 
The  debit  side  is  always  the  larger  as  long  as  there  is  any  cash  on  hand,  since  cash  must 
be  received  before  it  can  be  paid  out. 

This  account  is  closed  "  By  Balance." 

Note.— When  no  Balarux  account  ia  opened  in  the  Leger,  the  entry  in  closiag  Cash  ia  "  By  Balance  to  new  acccmnt," — and  lo  ia 
siooilar  closures. 

Merchandise,  and  other  Speculating  Property  Accounts. 

Merchandise  account  is  kept  to  know  the  cost  and  proceeds  of  merchandise ;  and  as 
a  consequence,  the  gains  or  losses  thereon. 

Merchandise  costs  value  when  it  is  purchased — it  is  debited  when  it  costs  value — and 
consequently  the  debit  side  shows  its  coat,  or  purchases.. 

Merchandise  produces  value  when  it  is  sold — it  is  credited  when  it  produces  value — 
and  consequently  the  credit  side  shows  its  proceeds,  or  sales. 

When  all  is  sold,  the  difference  between  the  two  sides  will  be  a  gain  or  loss.  If  a 
portion  of  goods  remains  on  hand  unsold,  this  balance  must  be  credited  to  the  account, 
prior  to  closing,  as  an  offset  thus  far  against  its  cost. 

If  the  debit  side  is  the  larger,  it  is  closed  "  By  Profit  &  Loss,"  if  the  credit  side  is  the 
larger,  "  To  Profit  &  Loss,"  always  into  Profit  &  Loss. 

Real  Estate,  Bank  Stock,  Rail-Road  Stock,  Steamboat  Stock,  Shipment  accounts, 
Adventure  accounts,  and  all  other  speculating  property  accounts,  are  kept  for  the  same 
purpose,  and  treated  in  the  same  manner  as  Merchandise  account. 

I  -  

Personal  Accounts. 

Accounts  are  kept  with  persons  to  show  your  business  dealings  with  them.  A  person 
is  debited  when  he  is  the  occasion  of  any  outgo  or  expenditure  to  you ;  in  other  words, 
whenever  he  costs  you  value ;  and  he  is  credited  whenever  he  produces  you  value  in  anv 
way. 

The  debit  side  shows  what  the  person  owes  you.  1    f  The  difference  shows  the  balance 
The  credit  side  shows  what  you  owe  the  person,  f  \      either  due  you  or  due  him 
These  accounts  are  closed  either  " To  Balance"  or  "By  Balance." 

117  ' 


LEGER  ACCOUNTS  (continued). 
Sundry  Dehtxyrs.    Sundiy  Creditors. 

SuNDKY  Debtors. — Thig  account  is  the  representative  of  persons  who  owe  you,  and 
is  used  to  avoid  opening  numerous  petty  accounts  upon  the  Leger.  It  contains  entries 
to  persons  with  whom  your  dealings  are  too  limited  to  open  a  separate  account  to  each. 
On  the  debit  side  of  the  account,  in  the  Leger,  instead  of  writing  "  To  Merchandise^'* 
(or  "  To"  whatever  other  title  constitutes  the  balancing  entry,)  it  is  customary  to  place 
the  name  of  the  person  who  is  debtor,  thus — "  To  John  Barbour,"  "  To  Samuel  Black," 
&c., — and  by  this  arrangement  you  can  see  in  the  account  who  it  is  that  owes  you. 
Then  each  credit  is  commonly  posted  on  the  same  line  as  the  debit  which  it  cancels — 
leaving  a  blank  space  opposite  to  the  names  of  such  persons  as  have  not  paid. 

The  closure  is  "  By  Balance." 

Sundry  Creditors. — This  account  is  exactly  the  reverse  of  Sundry  Debtors,  in  its 
treatment  and  the  mode  of  entry  to  it : — and  is  kept  for  the  same  purpose,  viz.  to  avoid 
opening  numerous  petty  accounts  upon  the  Leger. 

Note.— When  no  Balance  account  is  opened,  theoc  accounts  would  be  permitted  to  remain  unclosed,  ai  each  line  constitutes  in  ftct 
m  Mparate  account,  and  has  its  own  independent  balance. 

Bad  Debts,  or  Suspended  Debts. 

Into  this  account  are  transferred  such  personal  accounts  as  are  considered  of  too 
doubtful  a  character  to  be  relied  upon  as  constituting  a  part  of  your  assets.  It  is 
closed  "  By  Balance,"  but  whenevei  any  portion  is  positively  ascertained  to  be  bad, 
that  portion  is  closed  into  "  Proj&t  &  Loss." 

Bills  Receivable. 

The  object  in  keeping  this  account  is  that  you  may  know  the  amount  of  other  persons* 
notes  received,  the  amount  that  has  been  paid,  and  the  balance  yet  due  you. 

Whenever  you  receive  a  note,  it  costs  you  value,  and  this  account  is  debited ;  therefore 
the  debit  side  shows  the  amount  of  notes  received.  When  a  note  which  you  hold  is  paid, 
it  produces  you  value,  and  this  account  is  credited ;  therefore  the  credit  side  shows  the 
amount  paid.  The  debit  side  is  always  the  larger,  if  either,  and  the  excess  shows  the 
balance  of  notes  on  hand  unpaid. 

When  all  the  notes  you  hold  are  paid,  this  account  closes  itself;  but  if  any  remain 
unpaid,  it  is  closed  "  By  Balance." 

Bills  Payable. 

Bills  Payable  account  is  kept  that  you  may  know  the  amount  of  your  own  notes  issued, 
the  amount  taken  up,  and  the  balance  still  outstanding  against  you. 

Whenever  you  issue  a  note,  it  produces  you  value,  and  Bills  Payable  account  is  cre- 
dited, hence  the  credit  side  shows  the  amount  of  notes  issued.  When  a  note  which  you 
have  issued  is  taken  up  by  you,  it  costs  value,  and  Bills  Payable  account  is  debited, 
hence  the  debit  side  shows  the  amount  taken  up. 

The  credit  side  is  always  the  larger,  if  either,  and  the  excess  shows  the  balance  of 
Aotes  outstanding  unpaid.  .  .  .  ; 

When  all  the  notes  issued  are  paid,  this  account  closes  itself,  but  if  any  remain  unpaid, 
it  is  closed  "  To  Balance." 

Bonds  &  Mortgages  Receivable. 

Bonds  &  Mortgages  Receivable  are  a  class  of  Bills  Receivable,  and  might  be  kept 
under  that  head,  but  it  is  usually  preferable  to  open  a  separate  account,  which  is  treated 
precisely  like  Bills  Receivable. 

118 


^"T^ 


LEGER  ACCOUNTS,     {continued). 
Bonds  Sf  Mortgages  Payable. 

Bonds  k  Mortgages  Payable  are  a  class  of  Bills  Payable.  This  account  is  treated 
precisely  like  Bills  Payable  account. 

Bank. 

When  a  Bank  account  is  kept,  it  is  similar  in  its  treatment  to  Cash  and  Bills 
Receivable,  the  debit  side  showing  the  amount  of  value  deposited  in  bank,  and  the  credit 
side  the  amount  checked  out :  consequently  the  diflference  is  a  balance  in  bank— closed 
"By  Balance." 

Generally  no  Bank  account  is  kept  in  the  Leger,  and  sums  of  money  in  bank  are 
counted  as  cash  on  hand  in  balancing  the  Cash  account.  Your  dealings  with  the  bank 
would  then  be  regulated  by  the  Bank-Book  and  Check-Book. 

Premium^  Interest^  Discount^  Exchange^  Commission^  Guarantee^  Insur 

ranee,  Expenses,  Charges,  Sfc. 

These  and  similar  accounts  are  kept  to  ascertain  what  they  cost  you,  what  they  pro- 
duce you,  and,  as  a  consequence,  whether  you  gain  or  lose  thereon. 

Excess  of  debit  shows  a  larger  amount  of  cost  than  proceeds,  and  a  consequent  loss 
upon  the  account ;  while  excess  of  credit  shows  a  larger  amount  of  proceeds  than  cost, 
and  a  consequent  gain. 

These  accounts  are  always  closed  into  "  Profit  &  Loss." 

Remittances. 

•*  •  •  -    -  - 

Remittances  account  is  used  for  preserving  a  record  of  sums  sent  to  agents  to  be 
applied  by  them  for  your  benefit,  according  to  your  direction. 

This  account  costs  you  value,  when  you  send  the  money  abroad,  and  is  debited ; 
hence  the  debit  shows  the  amount  remitted  to  your  agent. 

-  It  produces  you  value,  when  the  money  previously  charged  to  it  is  used  in  transacting 
your  business,  or  is  remitted  to  you  again ;  hence  the  credit  shows  the  amount  disbursed 
by  your  agent.  The  difference  shows  a  balance  still  in  the  hands  of  the  agent,  and  is 
closed  "By  Balance,"  the  debit  being  always  the  larger,  if  either. 


This  account  may  also  be  used  for  preserving  a  record  of  sums  remitted  to  you,  to  be 
disbursed  for  others.  In  this  case  the  credit  side  would  receive  the  first  entries,  and 
would  be  the  larger  so  long  as  any  funds ,  remained  in  your  possession ;  and  therefore 
the  closure  would  be  "To  Balance." 


Loans. 

This  account  is  used  as  the  representative  of  persons  to  whom  you  loan  and  of  whom 
you  borrow  money. 

The  debit  side  contains  sums  loaned  by  you  to  others,  and  payments  by  you  of 
moneys  previously  borrowed  of  others,  because  in  these  cases  the  Loans  account  costs 
value. 

The  credit  side  contains  sums  borrowed  by  you  of  others,  and  payments  by  others  of 
moneys  previously  loaned  to  them,  because  in  such  cases  the  Loans  account  produces  value- 

If  the  debit  is  larger,  it  shows  you  have  money  due  you  on  loans — ^if  the  credit  u 
larger,  it  shows  that  you  owe  borrowed  money. 

ft  is  closed  " To"  or  "By  Balance." 

119 


■I 


LEGER  ACCOUNTS,    {continued). 

Profit  4r  Los9. 

This  account  is  the  receptacle  of  your  gains  and  losses  in  business.  During  the 
business,  any  outgo  or  expenditure  which  has  no  other  appropriate  account  for  its  recep- 
tion, is  debited  to  this  account,  and  any  income  which  cannot  properly  be  classea  under 
another  head,  is  credited  to  this  account.  In  closing  the  books,  all  gains  and  losses 
are  transferred  into  this  account,  losses  being  placed  on  the  debit,  and  gains  on  the 
credit,  as  in  the  accounts  from  which  the  transfer  is  made. 

Therefore : — The  debit  side  contains  losses. 
The  credit  side  contains  gains. 
The  difference  shows  net  gains  or  losses. 

This  account  is  closed  into  Stock,  or  into  the  partners  accounts. 

Stock. 

This  is  your  representative,  when  conducting  business  without  a  partner,  and  is  used 
instead  of  your  own  name. 

Debts  at  starting,  sums  drawn  out  during  the  business,  and  net  losses  at  closing,  are 
placed  upon  the  debit  side  of  Stock  : — Effects  invested  at  starting,  sums  invested  during 
the  business,  and  net  gains  at  closing,  are  placed  upon  the  credit  side. 

After  receiving  the  gains  or  losses,  if  the  credit  of  this  account  is  the  larger,  the 
excess  is  your  net  capital ;  if  the  debit  is  the  larger,  the  excess  is  your  net  insolvency. 

It  is  closed  into  Balance. 

Partners'  Accounts.  ^ 

The  debit  side  of  a  Partner's  account  contains  debts  assumed  by  the  firm  for  him, 
either  at  starting  or  during  the  business,  sums  received  by  him  from  the  firm,  and  his 
share  of  the  net  losses  at  closing :  The  credit  side  contains  his  investment  at  starting, 
sums  invested  during  the  business,  and  his  share  of  net  gains  at  closing. 

After  receiving  the  gains  or  losses,  an  excess  of  debit  shows  r^t  insolvency^  an  excess 
of  credit  net  capital.     The  account  is  closed  into  Balance. 

Balance. 

When  this  account  has  received  all  the  balances  which  are  closed  into  it,  the  debit 

side  contains  the  available  means  of  the  individual  or  firm  whose  business  is  represented, 

consisting  of  property  on  hand,  and  balances  of  accounts  due,  styled  resources  or  assets. 

The  credit  side  contains  the  indebtedness  of  the  individual  or  firm,  styled  liabilities. 

If  the  difference  be  a  debit  excess,  it  is  net  capital;  if  a  credit  excess,  it  is  net 

insolvency. 

The  balance  brought  down  from  Stock  account  closes  this  account. 

In  a  partnership,  the  balances  from  the  several  partners'  accounts  close  it. 

N.  B.  Th«  fiwal  proof  of  Double  Entbt  Book-kebpino  consists  in  the  agreement  of  Stock  and  Balance 
aifFerencea ;  and  is  the  result  of  an  arrangement  to  bring  all  the  gains  or  losses  of  the  business  through 
Profit  &  Loss  into  the  account  of  Stock,  thus  increasing  or  diminishing  that  account  just  in  the  same  pro- 
portion that  the  assets  and  liabilities  are  increased  or  decreased,  as  shown  in  the  Balance  account. 

In  the  closure  of  the  Legers  to  the  first  three  Sets  of  books  given  in  this  work,  a  Balance  account  has 
been  used,  believing  that  you  would  thereby  obtain  a  better  knowledge  of  the  agreement  between  accounts 
which  show  gains  and  losses,  and  accounts  which  show  assets  and  liabilities.  In  actual  business,  however, 
this  account  is  seldom,  or  never,  used,  and  it  is  therefore  omitted  in  the  other  Legers  given.  But  the  sam4 
prmeiples  apply  in  closing  Legers  without  the  Balance  account  as  with  it ;  and  the  same  proof  exists,  since 
the  assets  and  liabilUies  are  as  really  contained  in  the  Leger,  although  found  under  the  various  accountf 
naually  closed  into  Balance.     (Continued  on  page  183  Counting-IIouse  edition.) 

120 


QUESTIONS  ON  LEGER  ACCOUNTS. 

For  what  purpose  is  the  Cash  account  kept  ? 

What  does  the  debit  side  show,  and  why  ? 

What  does  the  credit  side  show,  and  why? 

How  is  the  balance  on  hand  ascertained  ? 

Whichside  must  be  the  larger,  if  either  ?     How  is  the  account  closed  ? 

Why  is  Merchandise  account  kept  ? 

What  does  the  debit  show,  and  why  ?    What  does  the  credit  show,  and  why  ? 

When  all  is  sold,  what  will  the  difference  between  the  two  sides  be  ? 

If  a  portion  remains  unsold,  what  is  to  be  done  prior  to  closing  ? 

How  is  this  account  closed  ? 

Why  are  Real  Estate  and  other  speculating  property  accounts  kept,  and  how  treated' 

l^or  what  object  SLre personal  accounts  kept? 

What  is  shown  upon  the  debit  ?     What  upon  the  credit  ?    What  by  the  difference? 

How  are  these  accounts  closed  ? 

Of  what  is  the  account  of  Sundry  Debtors  the  representative  ?     Why  is  it  used  ? 

What  does  it  contain  ?     How  are  entries  made  therein  ?     How  closed  ? 

Explain  the  account  of  Sundry  Creditors,  and  its  use. 

Explain  Bad  Debts,  or  Suspended  Debts. 

For  what  is  the  account  of  Bills  Receivable  kept  ? 

What  does  the  debit  show  ?     What  does  the  credit  show  ? 

Which  side  is  the  larger,  if  either,  and  what  does  the  excess  show  ? 

How  do  you  close  this  account  ? 

Explain  the  object  of  Bills  Payable, 

Explain  the  credit — the  debit.     Which  side  is  the  larger,  if  either  ? 

How  is  this  account  closed  ? 

Explain  Bonds  ^  Mortgages  Receivable,     Explain  Bonds  ^  Mortgages  Payable, 

To  what  is  Bank  account  similar  in  its  treatment  ? 

What  does  the  debit — the  credit — and  balance  of  this  account  show  ?     How  closed? 

Is  a  BanJt  account  usually  kept  in  the  Leger  ? 

Why  are  accounts  kept  with  Premium,  Interest,  Expenses,  and  the  like? 

What  is  shown  by  an  excess  of  debit  ?     What  by  an  excess  of  credit  ? 

How  are  such  accounts  closed  ? 

For  what  is  Remittances  account  used  ? 

When  do  you  debit,  and  when  credit  Remittances,  and  why  ? 

Which  side  of  Remittances  is  usually  the  larger  and  how  is  the  closure  made  ? 

For  what  other  purposes  may  this  account  be  used  ? 

What  does  the  Loans  account  represent  ? 

What  does  the  debit  side  contain  ?     What  does  the  credit  ? 

What  does  the  difference  show,  and  how  is  the  account  closed  ? 

Of  what  is  Profit  ^  Loss  the  receptacle  ? 

During  the  business,  with  what  is  it  debited  and  credited? 

In  closing  the  books,  what  are  transferred  into  it  ? 

What  does  the  debit  contain  ?     What  does  the  credit  ? 

What  does  the  difference  show  ?     How  is  the  account  closed  ? 

Whom  does  Stock  represent,  and  instead  of  what  is  it  used  ? 

What  items  are  placed  upon  the  debit  side  ?     What  upon  the  credit  ?  ^ 

How  does  it  show  the  net  capital,  or  net  insolvency  f 

How  is  it  closed  ? 

What  does  the  debit,  and  what  the  credit  of  a  Partner's  account  contain? 

After  receiving  the  gains  or  losses,  what  does  the  difference  show  ?     How  closed  ? 

What  is  contained  on  the  debit  side  of  Balance  account  ?     What  on  the  credit  ? 

What  does  the  difference  show  ?     How  is  the  account  closed  ? 

Wherein  does  the  final  proof  of  Double  Entry  Book-keeping  consist  ? 

Of  what  is  it  the  result  ? 

Is  Balance  account  generally  used  in  business  ? 

Does  the  same  proof  of  correctness  exist  in  closing  without  a  Balance  account  as  with  it' 

Q  121 


r 


i 


THOMAS  HARYEY  &  CO. 

SET  VI. 

FOREIGN  SHIPPING  AND  GENERAL  COMMISSION 

BUSINESS. 


•5 


123 


ftU    '.     Alix.-V^ 


\ 


EXPLANATORY   REMARKS,   SET  VL 

In  every  thing  connected  with  this  Set,  my  endeavor  has  been  to  make  it  pre-emi- 
nently practical  To  accomplish  this  the  better,  I  visited  in  the  spring  of  1849  some 
eight  or  ten  of  the  heaviest  shipping-houses  in  New  York  and  Philadelphia,  and  con- 
versed at  length  with  the  Principals,  and  with  their  Book-keepers,  on  the  nature  of 
foreign  transactions ;  the  port-charges,  duties,  and  other  expenses  incidental  to  traf- 
Ticking  at  foreign  ports ;  the  method  of  making  payments  in,  and  the  currency  of 
different  countries,  &c.  &c.  I  procured  actual  foreign  Invoices,  Account-bales,  and 
Account-Currents :  examined  into  the  method  of  keeping  books  adopted  by  the  different 
Accountants  with  whom  I  conversed,  and  compared  their  ideas  with  my  own :  had 
interviews  also  with  several  gentlemen  who  were  formerly  Captams  m  the  East  India 
trade  :  and  have  thus  striven  to  embody  the  experience  of  many,  for  the  good  ot  ail  who 
may  take  the  trouble  to  investigate  the  following  pages.  .      ,  j  x     i. 

There  are  some  details  connected  with  this  business  which  are  too  extended  to  be 
embraced  within  any  limits  that  could  be  reasonably  appropriated  to  it,  but  a  little 
thought  will  readily  supply  them.  Such  details  as  are  given  may  be  relied  upon  for 
accuracy,  especially  in  the  Adventures  to  Canton  and  the  West  Indies  in  which  the  pro- 
portionate expenses,  the  time  required  to  make  the  voyages,  and  the  season  of  year 
best  adapted  to  them,  have  been  carefully  arranged.  »     •  •  u 

The  length  of  the  Canton  voyage  has  forced  me  to  occupy  about  a  year  s  time  with 
this  Set,  and  I  have  divided  this  time  into  three  periods  of  four  months  cuch,  in  order 
to  represent,  so  far  as  the  closing  of  the  hooks  and  the  agreements  of  the  partners  are 
concerned,  a  three  years  business— the  first  two  years  with  two  partners,  and  the  last 
with  three  partners.  At  the  end  of  the  first  year  (represen.^ed  by  four  months)  the 
accounts  are  closed  in  the  Leger,  by  bringing  the  balances  down  to  new  account ;  and 
at  the  end  of  the  second,  when  another  partner  enters  the  Firm,  the  books  are  supposed 
to  be  full,  and  new  ones  to  be  purchased,  into  which  the  business  is  transferred.  Ihe 
two  Day-Books  and  Legers  arc  distinguished  by  being  lettered  "A.     and     B. 

The  Cash-Book,  in  conformity  with  the  usual  practice  of  Shippmg-houses,  is  made  one 
of  the  main  hooks  of  original  entry,  and  then,  at  the  end  of  every  month,  the  entries 
from  it  are  transferred  into  the  Day-Book,  from  which  all  postings  are  made  to  the 
Leger.  By  this  means,  the  Cash  account,  to  which  the  debits  and  credits  are  very 
numerous,  receives  but  one  debit  post  and  one  credit  for  each  month. 

No.E.-Interest,  In  this  Set,  as  throughout  the  work,  is  calrulat«Hl  at  six  per  centum,  although  seyen  per  «ntum  is  Uie  legal  Intereet 
In  New  York  SUte,  the  rate  rarying  in  different  States  aoooniing  to  special  statutes  tl:ercin  enacted. 

CASH-BOOK,   SET  VI. 

The  Cash^Book  is  always  an  important  book,  for  the  Cash  account  is  found  to  be  the 
most  difficult  to  keep  correctly  of  the  whole  list  of  accounts,  because  Cash  is  the  basis 
of  all  trade,  and  is  constantly  passing  out  for  purchases  and  expenses,  and  coming  m 

for  debts  and  sales.  '     , ,      . ,      -    ,  .    t     i  j.  •         n  ««„it 

In  Double  Entry,  as  well  as  in  single,  the  debit  side  of  this  book  contains  all  cash 
received,  and  the  credit  side  all  cash  paid  out,  and  the  difference  between  the  two  sides 
(or  the  debit  excess)  should  always  show  the  exact  amount  of  cash  on  hand,  countmg-- 
if  you  keep  no  Bank  account  in  the  Leger— the  amount  in  bank,  as  well  as  that  which 
is  not  in  bank.  This  balance  should  also  agree,  at  all  times,  with  the  balance  ot  the 
Cash  account  in  the  Leger,  when  that  account  is  posted  up-  ' 

In  connection  with  Sets  I  to  V  inclusive,  a  Cash-Book  would  be  only  for  the  purpose 
lust  mentioned,  to  preserve  the  Cash  account  from  errors;  but,  as  used  m  this  feet,  it 
has  another  and  still  more  important  office,  for  it  is  the  exclusive  and  only  book  ot 
original  entry  for  ca^h  transactions,  and  the  Leger  titles  (as  well  as  the  explanations) 
should  be  carefully  ascertained  and  correctly  recorded,  otherwise  the  Day-Book  entries 
therefrom  will  be  erroneous.  Although  generally  the  Cash-Book  may  be  balanced  daily, 
or  at  such  times  and  as  often  as  suits  the  taste  and  convenience  of  the  book-keeper,  yet, 
as  here  used,  it  will  be  found  more  convenient  to  make  a  formal  balance  of  it  but  once 
a  month;  in  order  that  the  monthly  total  dehit  footing  of  this  book  (less  the  balance 

124 


CASH-BOOK   {continued), 

brought  down  at  the  commencement  of  each  month)  shall  agree  with  the  gross  amount 
of  the  entry  "Cash  To  Sundries"  in  the  Day-Book;  and  that  the  total  credit  footing 
(less  the  balance  at  the  close  of  each  month)  shall  agree  with  the  gross  amount  of  the 
entry  "  Sundries  To  Cash"  in  the  Day-Book.  But  once  a  week,  or  as  often  as  it  is 
wished  to  make  trial  of  the  correctness  of  the  Cash  account,  the  debit  and  credit  columns 
may  be  footed  up  on  a  scrap  of  paper,  and  then  the  amount  of  cash  in  bank  (as  shown 
by  the  Check- Book)  and  the  amount  in  Safe  may  be  added  together,  and  if  their  sum 
be  equal  to  the  difference  of  the  cash  columns,  it  proves  the  account  correct. 

Some  transactions  require  entries  on  both  the  debit  and  credit  sides  of  the  Cash-Book 
at  the  same  time,  as,  for  example,  on  the  10th  Nov.,  we  have  Cash  Dr.  "  To  Bills  Re- 
ceivable, No.  8,  discounted  at  Phenix  Bank,  $5,530.42,"  as  if  the  firm  actually  received 
the  full  amount  of  the  note;  and  then,  on  the  opposite  side,  Cash  Cr.  "By  Discount 
on  Bills  Rec,  No.  8,  pr.  contra,"  for  the  discount  on  the  note. 

In  making  out  Account-Sales  and  Account-Currents,  the  Cash-Book,  which  is  not 
posted  until  the  end  of  the  month,  must  be  examined,  to  see  if  any  items  are  entered 
on  It  which  will  affect  the  Account-Sales  or  Account-Current.  So  also  in  the  settlement 
of  accounts  with  individuals. 

LEGERS,   SET  VL 

The  accounts  of  Ship  Massachusetts  and  Adventure  to  Canton  are  both  left  open  in 
closing  Leger  A,  because  there  is  no  means  of  ascertaining  the  value  of  the  property 
unsold  belonging  to  either  of  them.  As  Insurance  has  been  effected  thereon,  however 
It  may  be  considered  safe  for  the  firm  to  estimate  each  of  these  accounts  as  secure  for 
Its  cost  thus  far,  and  to  let  them  remain  open,  counting  nothing  gained  or  lost  upon 
ineui  as  yet. 

There  are  various  ways  of  transferring  accounts  from  one  Leger  to  another.     Some 

open  a  Balance  account  in  the  old  Leger,  closing  all  the  accounts  into  it,  as  shown  in 

the  first  Sets  given  in  this  work,  and  then  make  a  Day-Book  entry  of  the  effects  and 

debts  on  commencmg  the  new  business.     But  the  method  here  shown,  of  transferrin^ 

the  differences  of  the  accounts  direct  from  one  Leger  to  the  other,  answers  the  purpose 

equally  well,  when  all  the  accounts  are  to  be  transferred,  and  saves  considerable  useless 

writing.     Great  care  should  be  taken,  however,  to  have  equal  amounts  of  debits  and 

credits  appear  m  the  new  Leger  at  starting,  since,  if  there  is  not  an  eouilibrium,  the 

Leger  will  ever  after  be  out  of  balance;  just  as  a  pair  of  scales,  with  one  side  heavier 

than  the  other,  if  you  continually  add  equal  weights  to  the  two  sides,  will  never  hang 

^T*-  1^^  1^^  ^"^^'  therefore,  that  you  are  in  equilibrium,  it  will  be  well  always  to  take 

a  Irial  Balance  of  the  new  Leger  immediately  after  opening  all  the  accounts  therein. 

INSTRUCTIONS  FOR  WRITING  UP,   SET  VL 

In  the  Counting-bouse  edition,  the  Day-Books,  Cash-Book  and  Legers  are  eiven,  because  Aecountnnts  »nd  nth^r, 
who  use  It  as  a  book  of  reference  wiU  therehj  be  better  accommodated f  and  ^h^IitislZTt^^^^ 
merciallnstautions  the  pupils  will  be  of  sufficient  age  and  di.cr^tion  to  consult  their  own  bc.Tin^,c.ts  ly  Zt^.7 
suiting  the  book  unti  aft«r  they  have  finished  th<>  work  for  themselves.     But  in  the  High-School  edi  ion  thei  bi^kii 
are  omitted,  and  are  inserted  in  the  Key,  for  the  use  of  teachers  or  of  private  students.  ' 

Cash-Book,  first  on  loose  sheets  of  paper  for  correction,  and  then  in  the  blank  books  which  are  preparc^l  for  Ui«u 

rnX'^LTV"  J!Ind  Zr^  ''•''  r^  '•■'  '"  \'  T*^'"^  ^°^-^  '"^  **^*  Day-Book-^xclusive  cash  t^n^tloL,  oSJ 
^n^l  *        r     .  "T;^  i ^°«  ""f  * .^'.^  ""^"'■®'  '"^  ^^^^  Day-Book  and  Cash-Book,  as  elucidated.    At  the  end  of  e-.ch 
SdT^'Sh  To  S  Lndr^.?' ^'"^  all  the  entries  made  in  the  Ca.h-Book  during  the  month.     Commence  wittthed't 
Bide-   Ca«h  To  Sundries  —and  enter  the  various  receipts  to  the  credit  of  the  proper  accounts,  and  place  together  th 
rZ^  'tT  '^T^.^'  '^ff^^-^"'  'rr  l'""""  '^'  *^^"^«  "^•^^'^^  ««  ^  t«  «<id  up  and  post  them  in  onHm  mui"  S 
fltfh;     T*'.'^'*"^«"/t  necessary  to  look  over  the  whole  of  the  Cash  debits  carefullv  for  each  account  enSr^l   to  find 
riL      r'n^^"""'**"^'  ^  *^«j*i  omi..ions  and  errors,  check  each  sum  in  the  Cash-Book,  as  .^n  aTjoarnal 
Ti     It       """^  eonvenient  reference  from  the  Day-Book  to  the  Cash-Book  at  any  time,  affix  to  e«.h  Turn  itf  pr?i^  ^ 
dat«.     Having  completed  the  debits,  next  journalise  the  credit  side,  saying  "Sundries  To  Cash  "and  dJutin''^ 
accounts  for  which  payments  have  been  made  during  the  month.         '     •>    ^  '*=^   -^**  ^^-^»    ^^  dcoiUc^  aJ 

tlJil'^^J  r^T"^  ^T  dollars  and  ccnt^  are  not  used  to  disUnguish  debits  from  credits,  but  the  first  is  for  items,  ana 

^::r:^y'zl!:eiZT:'^t:zi,^^^^^^  ^^^^^  ^^  ^""^'-^  ^-^^^--^  ^--  ^«  ^-^-^-^>  ^^  ^^  ^>- 'r": 

r,r^u^^  particular  and  make  your  own  additions,  extensions,  and  other  cnlculations.  wherever  thev  occur  in  anr 
cLh-Boii/'  El«ci<i-tion3,  "[D.-B.J"  signifies  "enter  in  the  Day-Book,"  axid  "Ic.!r]"-"X  ill  Z 

125 


R 


HlSTORl  AND  ELUCIDATIONS,  SET  Yl. 

New  Fork,  July  2d,  1852. 

Thomas  Harvey  and  Salmon  P.  Nixon  have  this  day  formed  a  partnership  for  couductiiig  a 
ffyreign  shippinfj  and  general  commissnmi  business;  the  parties  agreeing  to  furnish  equat 
'capital,  and  to  share  alike  in  gains  and  losses.  No  Interest  account  is  to  be  kept.  Setdo- 
ments  are  to  be  made  yearly,  and  each  partner's  share  of  gains,  if  any,  accruing  from  tho 
business,  to  be  added  to  his  account,  as  a  new  investment.  The  partners  can  draw  out  fundi>^ 
from  time  to  time,  as  needed  for  private  use.     Title  of  Firm — *'  Thomas  Harvey  dc  Co.'* 


Thomas  Harvey  accordingly  invests  as  follows : 
Cash  in  Phenix  Bank 
Ship  Massachusetts,  valued  at 
A  Note  against  Bagley  &  Thompson,  due  Aug.  10th,  No.  1, 

Salmon  P.  Nixon  invests 

Cash  in  Bank  of  Commerce                                            10,750.00 
Do.  on  hand  in  Safe  318.75  11,068.75 

A  Note  against  Wm.  Longfellow,  due  July  20th,  No.  2,  4,500.00 
«     «         «       JonasSavage&Co.,"   Aug.  30th,    "3,2,225.50 
«    «        "      EzraCoe&Co.,     "  Sep.      8th, 
«     "         «       John  Vanarsdale,  "   Nov.       2d, 

Ginseng,  amounting,  pr.  I.-B.,  fol.  1,  to 
Store  Fixtures,  valued  at 

By  agreement,  the  Notes  are  to  be  received  by  the  Firm  without  Discount 

1.  Ship  Massachufetta  and  Bills  Rec.  cwt  the  firm  Taluc.    T.  ITanrey  produces  the  firm  Talue.  1  rn  0.1 

2.  Lilla  Rcc^  Mdfe.  and  Kxpenees  cost  the  flnii  ▼*lu«.    8.  P.  Nixoo  produces  the  firm  Talue.      )  '^        ' 
3:  Caph  costs  the  firm  value  in  their  indebtedness  to  T.  llaryfy.    )  r(j..i|,] 


9,000.00 
26,000.00 
1,000.00    $35,000.00 


"  4,     645.00 

«  5,  1,960.75    9,331.25 

14,000.00 

600.00     $35,000.00 


4w  Cash  costs  the  firm  value  in  their  indebtedness  to  S.  P.  Nixon. 


Oth 


We  are  preparing  the  Ship  Massachusetts  for  a  voyage  to  Canton,  China ;  and  have  freighted 
her  in  part  with  Merchandise  consigned  to  Hughes,  Miller  &  Co.,  of  that  city,  to  be  sold  for 
our  %  and  risk,  as  pr.  O.-I.-B.,  fol.  1,  to  wit  : 
Drills,  Bo't  of  A.  A.  Lawrence  &  Co.,  pr.  I.-I^.,  fol.  1,  on  our  Notes, 

No.  1  rSi  4  mos  for  14,000.00 

6     "     "  14,000.00 


u 


2  " 
a  it 


8 


it    t( 


14,000.00  42,000.00 


Ginseng  from  Store,  invested  by  S.  P.  Nixon,  as  pr.  I.-B.,  fol.  1,  14,000.00 
Lead,  Bo't  of  Haines,  Hampton  &  Co.,  pr.  I.-B.,  fol.  1,  pr. 

Check  on  Bank  of  Commerce,  Am't  7,000.00     $63,000.00 

Paiued  our  Note  No.  4,  @  12  mos.,  to  the  Atlantic  Insurance  Co., 

for  Ins.  on  $72,000,  @  1«  %  .    1,080.00  ^ 

And  for  policy  *  1-25     1,081.25 

Com.  on  $63,000,  @  2*  % 


1,575.00         2,656.25 


Due,  pr.  Average,  Nov.  12th, 


$65,656.25 


It  matters  hut  little 
making  all  subsequent 
wits."  "  Adventure 

ijerceive  that  the  sum  msm^i.  lo  ™.~v  •«  ►■■  .  ^^«.».  — « — r \^  .  ^        •  ,      -.      .  i^k  «.« 

This  Adventure  has  now  cost  value,  and  Rills  Pay.,  Mdse,  Haines,  Hampton  k  Co.,  and  Com.  have  produced  tiIim.    [v.-B.] 
Afsain,  llaines,  Hampton  A  Co.  have  cost  valae  in  Cash.    [C.-B.J 


Agreed  with  John  Hollingshead  &  Co.  to  bring  home  for  them,  from  Canton,  in  the  Ship  Mas- 
sachusetts, Fillmore  master,  250  Tons  Freight  @  $20  pr.  Ton,  allowing  them  also  the  privi- 
lege of  sending  out  Freight  to  Canton,  by  said  Ship,  to  an  amount  not  exceeding  200  Tom*, 

IVce  of  charge. 
A  Captain,  1st  and  2d  Mates,  Carpenter,  Steward,  Cook,  10  Seamen,  and  2  Boya,  compose  th« 

crew  of  the  Ship  Massachusetts. 

Ko  Day-Book  entrj  is  raqnind  tar  this  bistorj.    It  is  a  small  pieoe  of  informatioB  ftarnlsbed  jwx  for  uss  hereafter. 

:      126    ~~  ^ 


HISTOKY  AND  ELUCIDATIONS,  SET  VI. 

New  Fork,  July  1 2th,  1S52. 

Bo't  of  various  Persons,  as  pr.  Bills,  the  following  Provisions  for  Ship  Massachusetts : 
Pr.  Check  on  Phenix  Bank,  20  Bbls.  Beef  @  $11,  220.00 

«      "      "        "         «     20   "      Pork   "      9,  180.00    400.00 

«       «       "  Bank  of  Com.  100 «      Bread «      3,  "  300.00 

"       "       "      "  "      Cabin  Stores  and  SmaU  Stores,  450.00     750.00 

Paid  Cash  for  getting  4,000  Gals.  Water  on  board,  10.00      $1,160.00 

« 

Keep  an  account  of  the  outgoes  for,  and  income  from  the  Ship  under  its  own  head,  separate  from  the  Adrentn^^ 
Ship  Massachusetts  costs  value.    Cash  produces  value.   [C.-B.] 


-  14th 


Rec'd  the  Passage-money  of  6  Passengers  to  Canton,  pr.  Ship  Massachusetts,  (which  we  have 
deposited  in  Bank  of  Commerce,)  @  $300,  $1,800.00 

Ship^Iansachusettfl  produces  value  in  Cash.    [C.-B.] 

The  fact  Uiat  this  Cash  was  deposited  in  the  Bank  of  Commerce  does  not  alter  the  entry,  and  need  not  he  mentioned  In 
theOMh-Ikwk.  It  ifl  given  here  that  you  may  be  able  the  better  to  understand  the  Check-Book.  You  will  find  minute 
details  of  the  business  frequently  given  in  this  ni«tory,  for  the  purpose  of  making  the  whole  transactions  clear  to  your 
mind ;  but  which  need  not  be  written  in  your  booka»  While  omitting  them,  however,  you  should  be  careful  to  leave  out 
nothing  which  is  important  to  be  recorded. 


16th 


Paid  the  New  York  Ins.  Co.,  by  our  Note  No.  5  @  12  mos.,  for  Ins.  on  the  Ship  Massachusett£, 
for  $27,500,  @  7  7^  .  1,925.00 

And  for  policy  1.25      $1,926.25 

Ship  Blassachusetts  costs  value  in  Bills  Pay.    \P--B.] 


« 


Paid  Custom  House  Charges  in  Cash,  for  Clearance  of  Ship  Massachusetts,  which  sails  this  day 
for  Canton,  $5.60 

Ship  blassachusetts  costs  value  in  Cash.  [C-B.] 

20th 

Bills  Rec,  No.   2,  drawn  by  Wm.  Longfellow,  favor  of  S.  P.  Nixon,  deposited  in  Phemx 
Bank  on  the  10th  inst.  for  Collection,  comes   due  this  day,  and  is  paid  at  the  Bank 
Am't  $4,500.00 

Cash  coKt"  value  in  Pills  Rec    [C.-B.] 

In  a  re«l  business,  the  Cash-Book  would  here  require  an  entry  of  the  Cash  received,  the  Bill-Book  a  memorandum  of  the 
payment  of  this  Note,  and  the  Check-Book  a  record  of  the  deposit  in  Bank  of  the  proceeds  thereof  You  may  make  the  entry  is 
the  Cash-Book  only  for  the  present,  but  refer  to  the  Bill-Book  and  Check-Book  given,  to  see  the  connection  between  the  oitriaa. 

Aug.  2d .. 


Charted  of  Hollistcr,  Son  &  Co.,  the  Bark  Phillis,  of  200  Tons  register,  for  a  voyage  to 
Kingston,  Jamaica,  and  back  to  New  York,  by  way  of  Havana,  with  25  lay  days  in  the  two 
ports.  We  are  to  pay  all  foreign  Port  Charges,  and  $2,000  Charter-money — one-half  con- 
sidered earned  at  Havanna.     Demurrage,  $25  pr.  day. 

No  Bay-Book  entry  is  here  requisite. 

Lay  days  are  the  days  agreed  upon  for  a  vessel  to  remain  in  pori    Demurrage  is  the  forfeiture  for  each  day  she  k 
detained  beyond  the  time  specified  in  the  Charter-party— which  is  the  agreement  drawn  up  between  the  parties  when  a 


vessel  is  chartered. 


U 


Passed  our  Note,  No.  6,  @  12  mos.,  to  the  American  Mutual  Ins.  Co.,  for  an  open  policy  of 
Insurance,  to  cover  all  shipments  by  us  or  consignments  to  us,  during  the  year,  within  the 
limits  of  the  United  States,  or  the  West  Indies,  until  the  premium  on  the  same  amounts  to 
the  Note,  $2,000.00 

This  method  of  Marine  Insurance  Is  quite  customary.  The  Ins.  Co.  takes  a  Note  as  security  jf^  certidn  amount  ot 
premium,  and  furnishes  the  House  insuring  with  an  open  policy.  Then,  at  any  time,  when  the  House  ships  goods  m 
receives  information  of  goods  being  shipped  to  them,  they  notify  the  Ins.  Co,  and  get  it  entered  on  this  open  policy.  At 
the  end  of  the  year,  if  no  losses  have  occurred,  settlement  is  made,  and  so  much  of  the  Note  is  paki  as  has  been  uc«d  up  Kw 
the  Prem.  on  goods  insured.  A  p«!r  centage  is  also  charged  by  the  Co.  (usually  10  per  cent)  on  the  BaL  of  the  Mote.  V 
goods  so  insured  are  lost,  the  Note  is  returned  in  part  payment  thereofl 

Here  the  American  Mutual  Ins.  Ca  has  cost  value  in  our  Note.  1  m  u  t 

BilU  Paj.  bM  produced  vahie  in  the  obligation  of  the  Co.  on  open  policy,     j  L^**^-J 


>1 


;•( 


127 


t 


HISTOEY  AND  ELUCIDATIONS,  SET  VI. 


$4,540.00 


Neu)  Fork,  August  2d,  1852. 

Bought  of  Morton  &  Godwin,  pr.  Check  on  Phenix  Bank, 
Flour,  pr.  I.-B., 

Bought  of  Otis  &  Brother,  pr.  Check  on  Bank  of  Com- 
merce, Meal  and  Corn,  $3,540.00 
Shipped  the  above  on  board  Bark  Phillis,  Bingham,  master,  bound  to  the  West  Indies,  and 

consigned  as  pr.  O.-I.-B.,  p.  1,  to  Danie)  Starr  &  Co.,  Kingston,  Jamaica,  to  be  sold  for  our 

%  and  risk.     Am't  ,^  .  8,080.00 

Insured  for  the  voyage  in  American  Mutual  In*.  Co.,  on  open  policy, 
$9,000,  @  3  %  270.00 

And  for  policy  1.25        271.25 

Drayage  and  Labor  71.50 

Commission  on  88,080,  @2»%  202.00  544.75 

$8,624.75 


-A. 


Adventure  pr.  Bark  PhilUs  crmU  yalue. 

Morton  A  G'xiwin,  Otis  k  Brother,  American  Mntnal  Int.  Co.,  ChargM,  and  CommUrfon  haTe  each  prodnoed  Talne.    [D.-B.l 
Chari;;e«  is  an  account  to  which  we  credit  all  Bums  charged  for  drayage,  labor,  storage,  weighing,  4c.,  on  goods  consigned  t* 
us  to  be  sold,  and  debit  sums  paid  draymen  and  laborers,  when  their  bills  are  rendered,  or  their  month'i  wagM  to  du*. 
Again,  Morton  t  Godwin  and  Otis  and  Brother  have  cost  the  firm  ralue  in  cash.    [C.-B.] 


10th 


Bagley  &  Thompson's  Note,  No.  1,  Thomas  Harvey's  favor,  fell  due  and  was  paid  this  day,  at 
the  Phenix  Bank.     Am't  $1,000.00 

Bills  Rec  produces  value  in  Gash.    [C.-B.]  ^ 

24th  


Paid  Thomas  Harvey  Cash  on  % 


$130.00 


30th 


Jonas  Savage  &  Co.'s  Note,  No.  3,  favor  of  S.  P.  Nixon,  fell  due  and  waa  paid  this  day,  at  the 
Bank  of  Commerce.     AmH  $2,225.50 

3l8t  


Paid  S.  P.  Nixon  on  ^  pr.  Check  on  Bank  of  Commerce 
''    Wages  of  Clerks  to  date  in<!)ash 

Sept.  8th 


125.00 

95.00 


220.00 


Note  No.  4,  favor  of  S.  P.  Nixon,  Ezra  Coe  &  Co.  drawers,  was  this  day  paid  at  the  Bank  of 
Commerce.     Am't  $%45.00 

22d 

Rec*d  from  John  Gundry  &  Co.,  Cincinnati,  500  Bbls.  Flour,  to  be  sold  for  their  %  and  ride. 

Am't,  pr.  Invoice,  $1,579.75. 
Paid  Freight  on  same,  pr.  Check  on  Phenix  Bank  425.00 

Drayage  15.75         $440.75  i 

You  may  kepp  an  account  of  thin  Hour  under  the  head  of  "  Sales  fcr  aeoount  of  John  Gundry  A  Co.,"  whidi  now  costs  fhe 
Firm  yalue  to  the  ain't  of  the  Freight  and  Drayage,  $440.75,  and  must  be  debited  therefor  in  C.-B.  and  D^B. 


Cash  produce  the  Firm  Talue  by  paying  Freight   ^C-B.] 

*    iln.- 


Charges  produces  the  Firm  yalue  in  Bngrage.    l,I>.-B.J 


Oct.  5th 


1 


I 


Having  rec*d  advice,  pr.  Mail,  (by  Steamer  to  Charleston,)  that  an  Invoice  was  about  to  be 
.^hipped  from  Havana,  pr.  Bark  Phillis,  of  upwards  of  $14,000,  we  have  effected  an  ad- 
ditional Ins.  on  open  policy,  in  the  American  Mutual  Ins.  Co.,  for  excess  of  homeward  Cargo 
over  the  $9,000  insured  thereon. 
$6,000,  @r^  $90.00 


Adyenture  pr.  Bark  PhflUs  here  costs  yalue. 
American  Mutual  Ins.  Go.  produces  yalue. 


128 


HISTORY  AND  ELUCIDATIONS,  SET  YI. 

New  Fork,  October  11th,  1852. 

Tno  Bark  Phillis  arrived  in  port  this  day,  having  reached  Kingston,  Aug.  27th,  and  Havana 
bept.  10th,  and  having  been  detained  in  the  two  ports  30  days.  At  Kingston,  the  Flour,  Meal 
and  Corn  were  sold,  as  pr.  the  following  Account-Sales  received.  ' 


Sales  of  Merchandise,  received  pr.  Bark  Phillis,  Captain  Bingham,  from  New 
York,  for  account  and  risk  of  Messrs.  Thomas  Harvey  ^  Co. 


BsQUER  Brothebs,  Payable  (a  60  days, 
600  Bbls.  Flour 


Prstost  &  Delanet,  @  30  days, 
700  Bbls.  Corn  Meal 
100  Bags  Com 


S.  W.  Cattell  &  Sow, 
600  Bbls.  Flour 


Mitchell,  Atterbt  &  Co.,  ©  60  days, 
800  Bags  Corn 
800  Bbls.  Corn  Meal 


@28«. 


@18*. 
"     8*. 


028<. 


@    8*. 
"  18*. 


Charges. 


-<< 

(I 


(I 


<( 


3d 


To  Cash  paid  Duties,  1000  Bbls.  Flour  /a 

1000     "     Meal  « 

400  Bags  Corn  «« 

Port  Charges  on  vessel 
AVTiarfage 
Lighterage 
Advertising  in  Kingston  papers 
Bank  Discount  on  Sales 
Prera.  &  Stamps  on  Sterling  Bills  Exchange  in  favor  of 

Suarez  Brother  &  Co.,  Havana,  (a  CO  days 
Com.  on  £2,400  ©  5  ^  ^    .       j 

BaU,  being  Net  Proceeds  of  Sales,  carried  down 


By  Net  Proceeds  Bro't  down 
To  ft  Set  of  Colonial  Bnnk  Bills,  on  Court  Directors,  London,  in 
favor  of  Daniel  Starr  &  Co.,  and  endorsed  by  them  over  to 
Messrs.  Suarez  BroUiers  &  Co.,  Havana, 

To  a  Sot        do.        do.        do. 

To  a  Set  of  Jamaica  Bank  Bills,  on  Baring  Brothers  &  Co.,  London 
in  favor  of  Daniel  Starr  &  Co.,  and  endorsed  by  them  over  to 
Messrs.  Suarez  Brother  &  Co.,  flavona,  @  60  days. 


E.  &  0.  E. 


Kingston,  Jamaica,  Sq>L  0th,  1862. 


Dairel  Starr  &  Co. 
pr.  John  Brown. 


630 
40 


«. 


120 
270 


150  0 
31 

6 
C5 
30 

2 


28 


33 


123 
1,994 


£2,460 


1,000 
794 

200 


6 

0 

3 

17 

4 

8 

14 

17 

0 

10 


0 
0 


£ 
700 


s. 

0 


0 


0 
0 
0 
3 
9 
0 
0 
6 

6 
0 
0 


670  0 


700 


390 


£2,460 


d. 
0 


0 


£1,994 


0 
10 

0 


£2,460  0    0 


10   0 


1,994 


£1,994 


10 


10 


The  Steriing  Sets  of  Exchange  obtained  for  the  Net  Proceeds  of  this  Sale,  were  taken  to  Havana, 
and  tl^re  sold,  as  appears  by  the  Account-Current  of  Suarez  Brother  &  Co.,  Com.  Merch^ 
ni     •      jT'  P'weeds  used  by  them  in  purchasing  Sugars  for  our  %,  as  pr  thi 


R 


129 


J  r    .» 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

New  York,  October  11/A,  1852. 

Invoice  of  Sugars,  shipped  ly  Snares  Brother  #  Co,,  pr.  Bark  Phillis,  Captain 
Bingham,  for  Neio  York,  hy  order,  and  for  account  and  risk  of  Messrs. 
Thomas  Harvey  ^  Co, 


p.  B. 

#1  to  300 

P.  C. 

#801  to  500 

P.  D. 

#  501  to  600 


800  Boxes  Sugar,  ea.  20  arobes  (25  lbs.  pr.  arobe) 

6000  arobes,  @  6  rials 
300  Boxes  %  26  rials 

200  Boxes  Sugar,  ea.  20  arobes,  @  6  rials 
200  Boxes  @  26  rials 

100  Hhds.  Sugar,  ea.  60  arobes,  @  5  rials 
100  Hogsheads  @  $6 


Export  Duty, 


Charges, 

8  rials  pr.  Box 
7«   *«      "   Hhd. 


DolB. 

4,500 
975 


3,000 
660 


Rials, 

0 
0 


0 
0 


3,750 
500 


0 
0 


^187-4 
93-6 


Cartage  &  Weighing,  2    "      "    Box 

4    "      "    Hhd. 
Brokerage  on  $13,375,  @  i  ^ 
Consul's  Certificate 


$125-0 
60-0 


Com.  on  $18,900  @  2«  ^ 


E.  &  0.  E. 


Havana,  Cuba,  Sept.  28M,  1852. 


K  8.  Curretuy,  S14,247.63 

SUABEZ   BbOTHEE   &   CO. 


281 

175 

66 

2 


0 
7 
0 


Dolfl. 
5,476 

8,650 

4,250 


Rials. 


0 


$13,375 


525 


0 

0^ 
0 


$13,900 
347 


$14,247 


1 
4 


They  also  paid  the  Charter  money  falling  due  at  Havana,  and  the  Port  Charges  at  that  place, 
remunerating  themselves  for  the  excess  of  outlay  over  the  proceeds  of  the  Sets  of  Exchangq. 
received  from  Kingston  by  drawing  on  us  for  the  balance,  charging  1'  %  for  negotiating  the 
Draft,  and  3  fc  as  the  rate  of  exchange  required  to  convert  it  into  Cftsh : — all  of  which  appears 
by  the  following  Account-Current. 

Messrs.  Thomas  Harvey  #  (7o.,  -^ 

In  Account  with  Suarez  Brother  ^  Co, 


To  One-half  Am't  Charter  Money,  paid  Captain 

♦*   Invoice  of  Sugars,  purchased  for  them 

«*   Cash  paid  Port  Charges 

By  a  Set  of  Colonial  Bills  for  £1 ,000,  sold  @  9%  Prem.  $4, 

<i        *«  ««  ♦♦     "  £794.10*.  ♦*      9  *«    "         3, 

"        "    Jamaica  Bank  Bills  for  £200"      9"    " 


844.44 
848.91 
968.89 


«  Our  draft  on  Thomas  Harvey  &  Co.,  @  30  d's  sight    $6,430.77 
Less  Prem.  for  negotiating  1*  %  and  Exch.  3  %        289.38 


Dr. 

1,000  00 


14,247 
556 


63 
00 


Havcmay  Cuba,  Sept.  28M,  1852. 


E.  &  0.  E. 

SUASEZ  BaOTHSB  &  Go. 


$15,803 


63 


Cr. 


9,662 
6,141 


$15,803 


24 
89 


63 


iJaiance  due  Suaiez  Brother  &  Co.  (including  Prem.  &  Exch.)  $6,430.77,  for  which  they  have 
drawn  on  us.  *  . 

Adrenture  pr.  Bark  Pbilliis  as  ehown  by  the  foregoing  etatementa,  baa  eoet  the  firm  816,094.01,  and  ha«  produced  the  firm 
f  9,662.24.  The  total  'cost  might  be  debited,  and  the  %otal  proceeds  credited,  but  the  jame  result  is  aoccmplished,  and  with  le^s 
writinjr,  by  debiting  only  the  excess  of  cost  over  proceeds,  or  tha  amount  for  which  Soarea  Brother  and  Co.  have  drawn  on  tna 

Siiarez  Brother  &  Co,  by  advancing  the  additional  outlay  reqairra  for  the  Adventure,  haTe  produced  the  firm  Talue,  and  nmsl 
be  credited  the  Am't  due  them— S? 6.4 3 0.7 7.  It  might  seem, that  as  they  have  remunerated  themselves  by  drawing  on  u^  theretora 
nothing  is  due  them,  and  they  should  receive  no  credit.    But  the  Draft  baa  not  yet  been  presented  to  the  firm  for  acceptance.    WM« 

,r  'ji  auicpted,  Suarea  Brother  &  Co.  will  rective  %  debit  which  will  balance  their  accoiint    S*  entry  of  the  20th  inst.  

;  —  - 


HISTORY  AND  ELUCIDATIONS, ^ET  YI. 

New  York,  October  llth,  1852.    ' 

Paid  pr.  Check  on  Phenix  Bank,  Duties  on  Invoice  of  Sugar,  received  pr.  Bark  Phillis,  from 
Havana  (Sales  of  Sugar,No.  1),  Am't,  $14,247.63,  @  30  %  ^,274.29 

This  is  an  expenditure  for  Adventure  pr.  Bark  Phillis,  and  might  be  debited  directly  to  that  account,  but  when  Md.*r 
belonging  to  an  Adventure  is  taken  into  the  Store  to  be  sold,  it  is  customary  to  open  a  Sales  Account  for  it,  as  vou  woaU 
for  a  Consignor,  debiting  thereto  all  charges  and  expenses,  and  crediting  all  Sales ;  then,  when  the  Mdse.  is  aU  sold,  th« 
net  proceeds  are  transferred  to  the  Adventure  account 

Sales  of  Sugar,  No.  1,  has  cost  value  in  Cash.    LC.-B.J 

12th 


Paid  Hollister,  Son  &  Co.  pr.  Check  on  Phenix  Bank,  for  Bal.  of  Charter  Money,  due  on  the 
voyage  of  Bark  Phillis  to  i)iQ  West  Indies.  1,000.00 

5  days' Demurrage  @  $25  pr.  day  125.00      $1,125.00 

Adventure  pr.  Bark  Phillis  costs  value  in  Cash. 


15th 


Sold  J.  Fallstaff  &  Co.,  for  their  Note  @  6  mos..  No.  6,  300  Boxes  and  100  Hhds.  of  Sugar, 
received  pr.  Bark  Phillis  (Sales  of  Sugar, No  1),  Am't,  pr.  S.-B.  $16,455.00 

Sales  of  Sugar, No.  I,ha8  produced  value  in  Bills  Bee. 


— 18th 

Sold  Lyman  F.  Bache,  for  his  Note  @  6  mos.j 
Phillis,  (Sales  of  Sugar,  No.  1,)  Am't.  pr.  S.-B. 


No.  7,  200  Boxes  Sugar,  received  pr.  Bark 

$6,240.00 

After  writing  up  your  Day-Book  to  this  point,  you  may  post  it  to  the  Leger,  so  as  to  be  able  to  understand  more  clearlr 
the  closure  of  S^es  of  Sugar,  No.  1,  which  occurs  in  the  next  entry.  And  in  each  closure  of  a  Sales  account  hereafWr 
occurring  m  this  Set,  the  Leger  should  be  posted  up  before  making  the  closing  entry 

19th 


The  Sugar  belonging  to  Sales  of  Sugar,  No.  1,  has  all  been  sold. 

Total  Proceeds 
Less  Duties  entered  11th  inst. 

Cooperage,  Storage,  and  Labor 
Interest  on  Duties,  $4,274.29,  for  8  days      v 
Our  Commission  on  $22,695  @  2*  % 

Net  Proceeds,  due  pr.  Average  June  8  th,  1853,  to  be  credited 
to  Adventure  pr.  Bark  Phillis, 


22,695.00 
4,274.29    $18,420.71 

55.50 

5.70 

567.38 

17,792.13    $18,420.71 


Fides  of  Sugnr,  No.  1,  iias  cost  value  in  Charges,  Int  and  Com.,  and  in  our  obligation  to  Adventure  pr.  Bark  PhflliK,  ft« 
^et  rrocec<i8  of  tale?./'  *^  — — »-^  -« 

Thi*.  entry  U  made  with  a  view  to  close  Sale*  r,f  Sugar,  No.  1,  and  at  the  end  of  the  month,  (after  the  Ca?h  entries  have 
been  transferred  feom  the  Carfi-Book  into  the  Day-Book.  and  posted,)  you  may  rule  and  odd  up  that  account  nr-on  the  I^.-t. 
\.>u  can  tra«e  out  the  details  here  stated  as  follows :-Turn  to  Sales  of  fc>ugar.  No.  1,  in  your  Leger.  and  if  it  L  posted  up  u, 
this  point,  you  wi^kfind  two  credits  amounting  to  $22,69,%  which,  by  reference  from  the  Lejrer  to  I*:  v-I!ook.  and  fr.Sn  the 
I)ay-Book  to  &ale#ftook,  you  will  see  are  the  Total  Proceeds  of  Sugar  sold.  You  will  aUo  find,  en  the  credit  >ide  of  vour 
Ca^h-Book,  one  debit  (not  yet  posted   of  |4.274.29,  which  you  will  see  is  the  charge  for  Duties  paid.    DcJucting  thS^Yyi^ 

f^  .if  ^°if  ^^rr^"'  yo"  ^'^v®  $1S,42U.71,  the  Am't  which  must  Le  debited  to  the  account  to  close  it.  1  hi^  Am't  i"  made 
up  of  the  following  items :  ^    ux  ^  ,.  uuun: 

Cooper.T4,'e,  Storage,  &  I^bor,  which  are  supposed  to  have  ifeen  preserved  in  small  memorandum  books,  kept  fat  the  vat- 
pofw,  until  this  time.  Int.  on  Duties  from  time  of  payment,  so  as  to  bring  the  charges  all  up  to  the  present  date,  for  can- 
vemenoe  m  averaging.    Com.  of  firm  on  Sales  «22,695,  fiX'»  c/;  and  Kct  Proceeds,  due  Adventure  after  paying  all  charge. 


—   20th 


Accepted  a  Bill  of  Exchange  of  Messrs.  Suarez  Bro.  &  Co.,  Havana, 
on  us,  @  30  days  sight,  for 

Suarez  Bro.  A  Co.  hare  cost  the  firm  ralne  in  Bills  Pay. 

22d 


$6,430.77 


There  is  Interest  to  be  charged  Adveature  pr.  Baxk  Phillis,  as  pr.  Account-Current  of  date 
(A.-C.-B.,  fol  1,)  699.09  ' 

The  Net  GainI,  as  shown  by  the  Account-Current,  tire  822.52      $1,521.61 

AdTcntnre  pr.  Bark  PhilUs  haa  here  cost  ralue,  and  Int  has  produced  value,  S699.09 :— and  in  order  to  tranrfer  the  Krt 
Gains  to  Profit  and  Loss  account,  you  must  also  debit  the  Adventure,  and  credit  Profit  &  Lobs  with  $822.52— thus  making 
the  entry  "Adventure  pr.  Bark  Phillis  To  Sundries."  "i«»i«i 

-,  30th    - 


Paid  Draymen  and  Laborers  in  Cash, 
*^'Wages  of  Clerks  to  date 
''    Rent  of  Store 


u     u 


94.75 
95.00 
400.00     495.00 


ObtHi^d  the  requisite  amount  of  funds  in  hand,  by  checking  on  Phenix  Bank  for  $600. 

Charges  and  Store  Expenses  ha-^e  cost  value  in  ^ash. 

'  JEMd  of  jir&t  yearns  business, 

131 


§589.75 


I 


HISTOEY  AND  ELUCIDATIONS,  SET  VI. 

New  York^  November  \st^  1852. 

We  have  agreed,  pr.  correspondence,  to  enter  into  a  Pork  Speculation  in  Company  with  Faxon, 
Field  &  Co.,  Cincinnati,  sharing  equally  with  them  in  the  expenses  and  proceeds  thereof; 
they  to  receive  2*  fo  for  purchasing,  and  we  2*  %  for  selling.  They  have  accordingly  purchased 
1,000  Bbls.  Pork,  and  shipped  to  us,  as  pr.  advice  this  day  received,  on  which  we  have  effected 
an  Ins.  in  the  American  Mutual  Ins.  Co.,  on  open  policy,  for  $10,000,  @1*  %.     $150.00 

We  will  call  this  "  Sales  of  Pork,  Co.  A." 

Sales  of  Pork,  Co.  A^  has  here  cost  value,  utd  American  Mutual  Ins.  Oa  has  produced  Talue. 

2d    


John  Vanarsdaie's  Note,  S.  P.  Nixon's  favor.  No.  5,  deposited  in  the  Bank  of  Commerce  on  the 
18th  ult.  for  collection,  falls  due  this  day.     Am't  $1,960.76 

Cash  costs  value  in  Bills  Receivable.   [C.-B.] 

5th  -> 


Rec'd,  JM".  Steamboat,  Canal,  and  Railroad,  via  Pennsylvania,  from  Faxon,  Field  &  Co.,  Cin- 
cinnati, 1,000  Bbls.  Pork,  (marked  TH,)  to  be  sold  for  their  and  our  joint  %,  amounting, 
pr.  Invoice  of  the  26th  ult.,  to  ?>9,256.25,  of  which  our  J  is  $4,628.12 

Paid  Freight,  pr.  Check  on  Phenix  Bank,  850.00 

The  Drayage  amounts  to  81.25  881.25 

$5,509.37 

Fales  of  Pork,  Co.  A.,  has  cost  the  Firm  value  in  their  Indebtedness  to  F.,  F.  ft  Co.,  and  in  Freiirht  and  Pray  age. 
£nter  all  except  the  payment  of  Freight  in  the  Dcj-Book,  [D.-B.]— but  place  this  payment  in  th«  Casii-Book,  [C.-B.] 

6th 


Paid  the  Saratoga  Fire  Ins.  Co.,  pr.  Check  on  the  Bank  of  Commerce,  for  Ins.  on  Stock  of  Goods 
in  Store,  for  one  year,  to  the  Am't  of  $15,000,  @Vfoj  225.00 

Policy  1.25  $226.25 

Tou  may  debit  Charts  with  this  cost,  and  lot  it  stand  to  that  aooonnt,  to  oorer  SMne  credits  of  Ins.  which  will  hereaftar 
occur.    Cash  has  produced  value.   [C.-B.] 

it 


Sold  to  Jeremiah  Brown  500  Bbls.  Pork,  belonging  to  Co.  A.,  @  $11 

Took  his  Note,  No.  8,  @  30  days,  for  $5,530.42. 
The  Discount  on  $5,530.42,  for  33  days,  (to  make  it  equal  to  Cash,)  iB 

SalM  of  Pork,  Co.  A.,  and  Discount  have  produced  value  in  Bills  Bra 


$5,500.00 

30.42 
$5,530.42 


Remitted  to  Faxon,  Field  &  Co.,  pr.  their  Order  of  1st  inst.,  a  Bill  of  Exchapge  on  Bacon  &  Bo»» 
well,  Cincinnati,  purchased  at  par  of  Clark,  Prime  &  Co.,  pr.  Check  on  Bank  of  Commerce, 
for  $5,000.00 

Faxon,  Field  A  Ca  have  cost  value  in  Cash. 


8th 


Bo't  of  Caleb  Johnson,  on  our  Note,  No.  8,  @  6  mos., 
150  Hhds.  CubJ  Molasses,  15,360  Gals.,  @  19  /^ 
125     "         "     Sugar,      157,500  lbs.,      "     4» 
500  Bbls.  Lard,  100,000    "        «    5* 

Mdse.  has  cost  value  in  Bills  Payable. 

: 10th  


2,918.40 
7,087.50 
5,250.00    $15,255.00 


Sold  to  H.  S.  Pierson  &  Co.,  for  their  Check  on  Phenic  Bank,  which  we  have  deposited, 
500  Bbls.  Flour— Sales  for  %  John  Gundry  &  Co.— @  $5.  2,500.00  ^ 

500     "     Pork  —Sales  of  Pork,  Co.  A.*  — "  10  75        5,375.00       $7,875.00 

Sales  for  account  of  John  Oundiy  A  Co.,  and  Sales  of  Pork,  Co.  A.,  hav«  tmetx  produced  value  in  Cash. 


Had  J.  Brown's  Note,  No.  8,  due  Dec.  9th,  discounted  at  the  Phenix  Bank. 
Am't  $5,530.42,  netting  5,503.69 

Dis.  for  29  days  ia  26.73        $5,530,42 

Fills  jtee.  bas  produced  vain*  in  Cash  $5,530.42.  I  ro  <n    ._.  ^.vt*  mm  **«<«»  1 
Wscount  has  <i«t  value  in  Cash  $26.73  |  [C.-B.,  on.  debit,  on.  er^nt] 

^ — 1 12th  — • 

Paid  at  the  Phenix  Bank  our  Note,  No.  1,  favor  of  A.  A.  Lawrence  &  Co.     Am't  $14,000.00 

Bills  Pay.  has  cost  value  in  Casb. 

132 


mSTOEY  AND  ELUCIDATIONS,  SET  YI. 

New  York,  November  I5lh,  1852. 

K/^ndered  J.  Gundry  &  Co.  an  Account-Sales  of  500  Bbls.  Flour,  consigned  to  us,  to  be  sold  for 


their  %.     Am't  of  Sales,  as  pr.  S.-B., 

Deduct  ChargesenteredSept.  22d 
Excess  of  credit  now  on  Lcger 

Additional  Charges : 

Int.  on  $440.75  from  Sept.  22d 

Storage,  Labor,  Cooperage,  &c. 

Commission,  @  2'  %,  on  Total  Sales 

John  Gundry  &  Co.'s  Net  proceeds,  due  12th  inst. 


2,500.00 
440.75 

$2,059.25 


3.97 
60.25 
62.50 


126.72 
1,932.53 


$2,059.25 


Gunlrv  A  r^^?f  of  John  Oundiy  &  Co.  has  cost  value  in  the  various  Charge^  and  in  thR  Firm's  indebtedness  to  Joh. 
?h^  2^?  iS^^''^^}'  Cliarges,  Commission,  and  John  Gundry  A  Co.  have  produced  value-the  latter  bvo^rmitS^ 
the  Net  Proceeds  now  due  them  to  remain  in  the  hands  of  the  Firm.  i-^uuwu  vjuue— me  lauer  t>y  permitting 


ii 


Bendered  Faxon,  Field  &  Co.  an  %  Sales  of  1,000  Bbls.  Pork,  sold  for  %  of  "  Sales  of  Pork, 
Co.  A."     Total  Sales  .  mo-rr/^r.    ' 

Deduct  Charges  entered 

"  "       and  Commission  as  below 

Net  Proceeds 
Interest  on  Charges  to  dat€ 

Storage,  Labor,  Cooperage,  &c.  41  50 

Ins.  vs.  Fire,  1^  %  on  $10,000 
Com.  on  10,875,  @  2^  % 
Faxon,  Field  &  Co.'s  }  Net  Proceeds,  due  10th  inst. 


1,031.25 
465.19 


1.82 


10,875.00 

1,496.44 
$9,378.56 


150.00 


191.50 

271.87 
4,089.28 


$5,154.47 


Co^S  "tL^'k^e^-lL^'^Tp^^^t  '"'"  ''^'"^  *"'  ^'"•'  '^"'^  '"  *^«  indebtedness  of  the  Firm  to  Faxon,  Fk.M  M 

cc 


Our  Share  of  the  Net  Proceeds  from  "  Sales  of  Pork,  Co.  A.,"  is 
"       "         "      First  Cost  Do.  was 


4,689.28 
4,628.12 


Making  our  Net  Gains  $61.16 

Tou  here  debit  Sales  of  Pork,  Co.  A.,  with  the  Gains  thereon,  and  credit  Profit  *  I^oss.    This  ig  a  mere  transfer  entrv  to  Uk« 
the  Gains  to  the  proper  receptacle  for  them,  and  the  Eide  for  determining  debits  and  credits  m^^SdZZt^^ 

16th  . 4._ 


Sold  to  James  Maitland  &  Co.,  for  Cash,  (dep.  in  Bank  of  Commerce,) 
^n^T?A^'- Jfr^-     Am't,  pr.  S.-B.,  5,250.00 

50  Ilhds.  Molasses.  "  "  1,024.00       $6,274.00 

Mdse.  has  produced  value  in  Cash.  

22d 


Paid,  at  the  Bank  of  Com.,  our  Note,  No.  7,  draft  of  Suarez  Brother  &  Co.,  Am't  $6,430.77 

'  Dec.  6th    ==---=^= 


^l^^^T?i'^^  ^  Nesmith,  for  their  Ch^k,  which  we  have  dep.  in  the  Bank  (rf  Commerce, 
1^0  Hhds.  Sugar.     Am't,  pr.  S.-B.,                                                             ^        $7  375  00 
^ ■ 10th  ! L_J 

Paid  James  Buchanan,  pr.  Check  on  Bank  of  Commerce,  the  Bal.  due  John  Gundry  &  Co    in 
accordance  with  advice  received  from  them,  as  pr.  letter  of  1st  inst  ' 

Am't  due  Nov.  12th  j  930  53 

Interest  for  28  days  on  $1,932.53  '    9.02       $1  941.55 

John  Gundry  A  Co.  and  Int  have  cost  value  In  Cash.  "^     ' ' 

"=---  Jan.  10th,  1853.    '^  _ 

•The  Phenix  Bank  has  discounted  J.  FalstaflF&  Co.'s  Note,  No  6,  due  April  18th  /53 
Am  t  $16,4o5— Dotting  \  16  186  23 

Discount  for^8  days,  on  $16,455,  is  .  '208;77     $16  455  00 

— • 12th *' 

^Paid,  at  the  Phenix  Bank,  our  Note,  No.  2,  favor  of  A.  A.  Lawrence  &  Co.  -Am't  $14,000.00 

133 


HISTORY  AND  ELUCIDATIONS,  SET  YI. 

New  Fork^  January  15/A,  1853. 

Faxon,  Field  &  Co.,  Cincinnati,  and  Douglass,  Forest  &  Co.,  of  this  City,  have  agreed  to  join 
us  in  a  Company  Speculation — the  parties  to  share  equally ;  Douglass,  Forest  &  Co.  are  to 
furnish  White  and  Brown  Sugars,  Molasses,  &c.,  at  prices  agreed  upon,  for  two-thirds  of 
which  we  are  to  give  them  our  Note,  payable  @  6  mos.  One-third  so  purchased  by  us  is  for 
^  of  Faxon,  Field  &  Co.,  and  to  apply  against  what  we  owe  them.  We  are  to  attend  to  the 
Business,  receiving  2*^  Commission,  and  2*%  Guarantee. 

Accordingly,  we  have  received  this  day  from  Douglass,  Forest  &  Co.  an  Invoice  of  Loaf  and 
Crushed  White  Sugars,  Muscovado  Sugar,  N.  0.  Molasses^  and  Rice,  delivered  at  our  Store, 
free  of  charge.     Amounting  to  $12,465.36. 

Gave  them  our  Note,  No.  9,  @  6  mos.,  for  our  i  of  Invoice  4,155.12 

And  for  Faxon,  Field  &  Co.'s  i  «       «  4,155.12       $8,310.24 

We  will  call  this  "  Sales  of  Mdse.,  Co.  B." 


Bills  Payable  has  produced  the  Firm  Talue,  »8,310.S4. 

«  Sales  of  Mdse^  Co.  B ,"  and  f  axon,  Field  A  Co.  have  eadi  ooit  the  firm  their  }  of  the  Ihtc^o*. 


_   21st 


Sold  James  Maitland  &  Co.,  on  Note  No.  9,  @  4  mos.,  a  Lot  of  Loaf  and  Crushed  White  Sugars, 
belonging  to  Sales  of  Mdse.,  Co.  B.,    Amounting,  pr.  S.-B.,  to  $4,657.25 

Sales  of  Mdse^  Co.  B.,  has  produced  Talue  in  Bille  B«oeiTable. 

—  Feb.  1st  ==' 


Bo't  of  Bailey  &  Welsh,  on  our  Note,  No.  10,  @  6  mos., 
2,000  Sacks  of  Coffee,  131,520  lbs.,  @  6^/^ 

Mdse.  has  cost  value  in  Bills  Payable. 

5th    


$8,548.80 


Shipped,  pr.  D.  Leech  &  Co.'s  Line,  via  Pennsylvania,  and  consigned  to  Faxon,  Field  &  Co  , 

Cincinnati,  to  be  sold  for  their  and  our  %  jointly,  as  pr.  Correspondence, 

2,000  Sacks  of  Coffee,  pr.  O.-I.-B.,  131,520  lbs.,  @  6- 
Insured  in  American  Mutual  Ins.  Co.,  on  open  policy,  $9,500,  @Vfo 

Drayage,  Labor,  Weighing,  Mending  Bags,  &c. 

Commission  on  $8,548.80,  @  2'^% 

i  Invoice  for  %  of  Faxon,  Field  &  Co.  $4,483.11 

\       «         "     "       Adventure  to  Cincinnati,  Co.  C.     4,483.11 


8,548.80 

142.50 

61.20 

213.72 

$8,906.22 


Faxon,  Field  k  Co.  and  Adventnrd  to  Cincinnatj,Co.  Chare  cost  yalue. 
Mdse.,  American  Mutual  Ins.  Co.,  Charges,  and  Com.  have  produced  Talue. 


19th 


Sold  to  Watson  G.  Gaylord,  for  his  Note,  No.  10,  @  10  days, 
50  Tierces  Rice,  belonging  to  Sales  of  Mdse.,  Co.  B. 

28th  


♦2,931.50 


Rendered  Faxon,  Field  &  Co.  and  Douglass,  Forest  &  Co.,  each,  an  %  Sales  of  Sugar  and  Rice 


belonging  to  "  Sales  of  Mdse.,  Co.  B."     Am't,  pr.  S.-B. 
Deduct  Charges  and  Com.,  as  below  ^ 

J^et  Proceeds 

Insurance  vs.  Fire  on  $6,500,  (J  Am't  insured,)  @Vfo 

Cooperage,  Weighing,  and  Labor 

Commission  and  Guarantee  on  $7,588.75,  @hfo 
Faxon,  Field  &  Co.'s     i  Net  Proceeds,  due  April  27th  . 
Douglass,  Forest  &Co.'si    "         "  "       "         " 


7,588.75 
496.56 

$7,092.19 


97.50 
19.62 


117.12 

879.44 
2,364.06 
2,364.06 


$5,224.68 


Sales  of  Mdse.,  Co.  B,  has  cost  ralne  in  Chars»*s»  Com.,  and  in  the  Firm's  indebtedness  to  Faxon,  Field  k  Co.,  and  Dong- 
lass.  Forest  4  Co.,  for  their  respective  shares  of  Net  Proceeds 


As  the  Mdse.  belonging  to  this  Co.  is  not  all  sold,  the  closing  entry,  transferring  Gains  into  Profit  4  Loss,  Is  not  now  to 
be  made  in  the  Day- Book.  The  closure  will,  howeTer,  be  made  in  the  Leger,  and  our  Share  of  the  BaL  rcmaininggMi 
hand  be  brought  down  to  the  New  Year's  business. 


(( 


•Paid  W%ges  of  Clerks,      (pr.  Check  on  Bank  of  Com.,)         110.00 
«    Rent  of  Store  ^'        «  «  "  400.00       510.00 

195.00 


**     Laborers  &  ©raymen,  " 


ti 


It 


ti 


$705.00 


End  of  second  year't  hunnegs. 
134 


HISTORY  AND  ELUCIDATIONS,  SET  YI. 

New  Fork,  March  1st,  1853. 

James  L.  Grant  has  been  associated  as  one  of  the  partners  of  this  concern ;  the  firm  stiU  to 
retain  its  original  title,  "Thomas  Harvey  &  Co."  The  former  partners  are  each  to  share 
two-fifths,  and  James  L.  Grant  one-fifth  of  the  gains  or  losses  in  business.  The  partners  to 
receive  interest  on  their  several  investments. 

James  L.  Grant  invests  Cash  on  deposit  in  Phenix  Bank  $15,000.00      , 

Cash  costs  the  firm  Talue.    James  L.  Grant  produces  Talue  in  his  iuTestment.     [C.-6.] 

4th    

Watson  G.  Gaylord's  Note,  No.  10,  deposited  in  Bank  of  Commerce  on  the  1st  inst.  for  collec- 
tion, was  this  day  protested  for  non-payment,  and  returned  to  us      2,931.50 

Paid  protest  in  Cash  1.50      «2,933.00 

Bills  Rec.  hare  a  beginning,  a  duration,  and  an  end.  Thia  Note  is  at  an  end,  it  having  matured  without  being  jsaid.  It  has 
also  subjected  the  firm  to  the  expense  of  protest.  They  therefore  consider  the  drawers  respoufiible  to  tlicm  for  the  Note  and 
protest,  which  they  retain  as  evidence  of  the  obligation. 

Bill  Rec.  has  produced  Talue  in  the  indebtedness  of  W.  O.  Gaylord,  $2,931.50.    [D.-B.] 

Cash  has  produced  Talue  iu  the  indebtedness  of  W.  G.  Gaylord,  $1.50.    [C.-B.] 

12th  

Paid  at  the  Phenix  Bank,  our  Note,  No.  3,  favor  of  A.  A.  Lawrence  &  Co.,  Am't »  $14,000.00 
25th 


Gave  our  Note,  No.  11,  @  6  mos.,  for  Insurance  effected  in  the  Atlantic  Ins.  Co.,  on  Cargo  of 
Ship  Massachusetts,  now  on  her  homeward  trip  from  Canton,  for  §75,500  @V%f  and 
policy  $1,133.75 

Adventure  to  Canton  has  cost  Talue  in  Bills  Payable. 

April  9th 


Sold  to  Leonard  Barber  &  Co.,  for  their  Note,  No.  11,  @  6  mos.. 

The  Bal.  of  Sugars  and  Molasses  belonging  to  Sales  of  Mdse.,Co.  B,  Am't  pr.  S.-B.  $5,525.00 


(( 


Rendered  an  Account-Sales  to  Faxon,  Field  &  Co.,  and  to  Douglass,  Forest  &  Co.,  of  Sugars 


and  Molasses,  belonging  to  Sales  of  Mdse.,  Co.  B,  Am't  pr.  S.-B. 
Deduct  Charges  and  Commission,  as  below 

9  Net  Proceeds 

Ins.  vs.  Fire  on  $6,500  @  1*  % 

Cooperage,  Weighing,  Labor,  &c. 

Commission  and  Guarantee  on  $5,525  @  5  ^ 
Faxon,  Field  &  Co.'s       }  Net  Proceeds,  due  Oct.  26th 
Douglass,  Forest  &  Co.'s  " 


97.50 
9.85 


(C 


u 


(I 


u 


u 


5,525.00 
383.60 

^5,141.40 

107.35 

276^5 

1,713.80 

1,713.80 

$3,811.20 


tt, 


We  find,  on  examination,  a  Loss  on  the  last  Sales  effected  for  %  of  Mdse., Co.  B,  of       $166.45 


When  this 


aoteunt  was  closed  in  the  old  books,  the  Firm's  share  of  Mdse.  remaining  unsold  was  estimated  at  its  coe^ 
•1,880.25,  while  Iheir  share  of  the  Net  Proceeds  now  is  only  $1,713.80.    A  sudden  depreciation  in  the  price  of  Sugar 


Molasses,  owing  to  the  market  being  OTerstocked,  has  caused  this  Loss.    Debit  Profit  &  Loss,  and  credit  Sales  of  Mdse. 
Co.  B,  to  close  it.    [D^B.] 

5 21st  


Note  No.    7,  our    favor,    L3nnan    F.    Bache    drawer,  deposited  in  Phenix  Bank  on  13th 
inst.,  falls  due  this  day,  and  is  paid,  Am't  $6,240.00 

•—   26th   


Watson  G.  Gaylord  has  paid  us  Cash  for  his  Note,  No.  10,  which  was  protested  at  the  Bank 
of  Commerce  on  the  4th  ult.,  and  charged  to  his  %. 

Note  and  protest      ,     *  2,933.00 

Int.  on  $2,933,  for  53  days  •  25.91      $2,958.91 

•  Deposited  $2,500  in  Phenix  Bank. 

Watson  G.  Gaylord  and  Int.  haTe  produced  Talue  in  Cash.     [C.-B.] 

30th 

Sold  to  Peter  Parker,  for  Check  on  Phenix  Bank,  deposited,  •  • 

100  Hhds.  Cuba  Molasses,  10,240  Gals.  @  19/  $1,945,60     . 

Mdse.  has  produced  Talue  in  Cash.  '  • 


y 


135 


ill! 


HISTORY  AND  ELUCIDATIONS,  SET  VI. 

New  Fork,  May  6lh,  1853. 

The  Sbip  Massachusetts  arrived  in  port  this  day,  direct  from  Canton,  and  we  have  received  from 
Captain  Fillmore  the  following  Account-Sales,  Invoices,  and  Account-Current,  rendered  by 
Hughes,  Miller  &  Co.,  Commission  Merchants  of  that  City. 

4.ccount- Sales  of  AfcrcJianifise  received  pr.  Ship  Massachusetts,  Capt.  Fillmorey  from  New  York, 
for  account  of  Thomas  Harvey  &  Co.,  owners  of  said  Ship. 


C.  T.  C. 

#  1  to  500 
#501  to  GOO 


500  Bales  Drills,  ea.  40-Pieces=20,000  pa.  @  $2.30 

100  Casks  Ginseng,  Net  270  Piculs  (133*  lbs.  ea.)     "  50.00 
2,000  Pigs  Lead,  1,050  - -- 


«i 


«« 


6.50 


Charges, 

Labor,  Landing,  Weighing,  &e. 
Commission,  2^  fo  on  $66,325 


$237.00 
1,658.12 


Canton,  Dee.  lOM,  1862. 


Net  Proceeds 

HUGHSS,  MiLLKK  &  Co. 


46,000 

13,500 

6,825 


66,325 
1,895 


$64,429 


00 
00 
00 


00 

12 

88 


:=: 


Invoice  of  Tea,  shipped  hy  Hughes,  Miller  &  Co.,  pr.  Ship  Massachusetts,  Captain  Fillmore,  for 
New  YorJc,  ly  order,  and  for  account  of  Messrs.  Thomas  Harvey  &  Co.,  owners  of  said  Ship. 


lUrk. 

No. 

C.T. 

#1 

2 

3 

4 

5 

Chests. 


Chops. 


500h'f  Chests:  MoiCbun 


Kind. 


1,000  "  * 
200  Chests 
500       ♦♦ 

1,000      " 


Wo  Chun 

Yoing 

SamChun 


Bo'tof 


Pouchong 
Y'ngHyson 
Hyson 
HysonSkin  Suagna 


Yengua 
Eshing 


<{ 


How  Tal  iSouchong 


Eshing 


Oroas 
lbs. 


25,500 


Tare 
lbs. 


6,508 


79,974|14,978 

19,8901  3,954 

50,120  10,040 

101,256,21,256 


Net  lbs. 


Piculs— TmIs. 


E.E. 


18,992  142TVff@  14 
64,996  487 iVff  **  50 
15,936  119|ViJ  "  42 
40,080  300 iVff  "  11 
80,000  600         "  15 

@  72  candarines  pr.  dollar 

Paid  for  Matting  80.00 

'«     *«   Papers  •              20.00 

Com.  on  $60,786.25,  @  2  ^  1,215.73 

Canton,  Jan.  1st,  1853.  Dollars 

HUGHSS,  MiLLEB  &  Co. 


Taels. 


1,994 
24,373 
5,019 
3,806 
9,000 


43,694 


$60,686 


1,315 


$62,001 


MsceCaik 


1 
5 
8 
6 
0 


9 
0 

4 
0 

0 


25 


73 


98 


Invoice  of  Matting,  shipped  hy  Hughes,  Miller  &  Co.,  pr.  Ship  Massachusetts,  Captain  Fillmore,  for 
New  York,  by  order,  and  for  account  of  Messrs.  J'homas  Harvey  &  Co.,  owners  of  said  Ship. 


U.  T.  ^6 


1,000  Rolls  f  White  Matting,  ea.  40  Yards,  40,000  Yds.,  @  \Af 

Commission  on  $5,600,  @  2  ^ 
Canton,  Jan.  \st,  1853.  £.  £.       « 

HUQHXS,  MiLLXB  &  CO. 

Messrs.  Thomas  Harvey  &  Co.,  in  Account  witff  Hughes,  Miller  <k  Co, 


5,600 
112 


00 
00 


$5,71200 


To  Invoice  of  Tea,  pr.  Massachusetts 

"      Do.  Matting,  Do.  * 

**  Port  Charges,  Piloting,  Wharfage,  &c.,  of  Ship  Massachusetts 

**  Refitting,  Repairs,  and  Sea  Stores  for  Do. 

By  Net  Proceeds  of  Drills,  Ginseng,  and  Lead,  pr    Do. 

Drafts,  @  6  mos.,  on  Baring,  Brothers  &  Co.,  London,  und^r 
Letters  of  credit  dated  July  9th  /52,  for.  £1,500,  @  4».  Ad. 
pr.  dollar  $6,923.08 

Less  Com.  for  negotiating,  1  ^  69.23 

Shroffage,  &c.  5.31      74.54 


it 


E.E. 


Canton,  Jan.  \»t,  1853. 


Balance  due  Thomas  Harvey  &  Co. 
(Entry  continued.) 

136 


Dr. 

62,001 

5,712 

816 

1,150 


69,680 
1,598 


71,278 


98 
00 
20 
00 


18 

-1 
42 


Cr. 


64,429  88 


r 

6,848  54 


71,278 


42 


71,27842 


HISTORY  AND  ELUCIDATIONS,  SET  YI. 

New  York,,  May  G(/i^  1853, 

(^Entry  continued.) 
By  the  foregoing  Account-Current,  it  appears  that  Hughes,  Miller  &  Co.  have  overdrawn  theif 
%,  leaving  a  balance  in  our  favor,  payable  in  Canton,  of  1,598.24 

Dis.  on  $1,082.36  @  5  %,  to  convert  it  into  Canton  funds  84.12      $1,682.36 

It  is  consi.l«mi  generally  to  cost  about  5  pr.  ct  to  carry  our  coin  to  Canton,  or  to  convert  our  money,  in  any  way,  into 
funds  u..-abl«  '"Canton;  therefore  the  Adventure  to  Canton  has  here  produced  value,  Sl.CS2.or,,  that  l»-inrthe^£o«nl 
^.S  the  «^"  falue?    "*  •*  '*^  ""*  exchange  on  the  6ame*added.    Hughes,  Miller  k  Ca  and  DiiouiTSJl 

T^Jftl  ii'n"!:^^u   ^*"*<»"  ^"  '^t  i^«  fi™'  as  "lio^n  ^7  Hughes,  Miller  ft  Co.'s  Accoi:nt-Current  the  amount  of  tb«» 

?J^n  Inn  ?.^     t^.H '''''^''",  f  ^o .  Loudon.    But  this  will  appear  in  a  sub^^quent  entry,  where  the  firm  purchase  KliTS 

London  to  nuit  thcni,  and  therefore  no  account  need  now  ho  made  of  it.  *«^"«ae  «"«  «■ 

The  njoney  in  Canton  in  reclconed  in  taels.  mace,  and  candarines— 10  candarines  make  a  mace,  and  10  mace  a  tael     Tba 

•pl'^h  '  Ih  Jff'"  ^*'f>?''^''"*^  taleR-16  tales  to  a  catty,  and  100  cattiea  to  a  picuL    A  picul  is  13;;^  lb«.  avoiidapcil 
weighU    bhroffage  is  the  charge  made  by  Shroffs  or  Bankers.  i    •»•  •Tuuuup<w 


<( 


The  Account-Current  of  Hughes,  Miller  &  Co.,  and  Statements  of  details  accompanying  it, 
show  that  a  portion  of  the  proceeds  of  Adventure  to  Canton  were  appropriated  to  payment 
of  expenses  of  Ship  Massachusetts  at  Canton,  to  wit : 

Port  Charges,  Piloting,  Wharfage,  &c.                           816.20 
Refitting,  Repairs,  and  Sea  Stores                              1,150.00       1,966.20 
To  which  add  5  %  Discount  on  $2,069.68  103.48      $2,069.68 

tLe*l!rc£'""^5n'****  ^"  *°^'  ^*^"*'  ^^^  -^dveot^ire  to  Canton  has  produced  value  to  the  foU  amount  of  expeaoM  witk 

7 ""-^^ 9th     - 


^  ^^t^^  ?r    ^"^^^   HoUingshcad  &  Co.,  their  Check  on  Bank  of  Commerce,  foV  Frei-ht  on 
250  Tons,  pr.  Ship  Mas.sachusetts,  from  Canton,  @  ^20  per  Ton  »5  000  00 

Ship  Massachusetts  has  produced  value  in  Cosh.  ' 
— . .       (< 

A^aid,  pr.  Check  on  Bank  of  Commerce,  Duties  on  Matting,  received  pr.  Ship  Massachusetts. 
W      from  Canton  (Sales  of  Matting,  No.  2),  Am't  of  Invoice  ^5,712,  @  25  %  $1,428.00 


« 


There  is  due  the  Ship  Massachusetts  for  Freight 
r-         On  Matting  (Sales  of  Matting,  No.  2),  125  Tons,  @  $20 
''  Tea        (Sales  of  Tea,        No.  3),  300     "      "    20 

Sales  of  Matting,  No.  2,  and  Sales  of  Tea,  No.  3,  have  cost  value.    Ship  Massachusetts  has  produced  value. 
■ ((        


2,500.00 

6,000.00      $8,500.00 


/  Chc-'^ed  on  Bank  of  Commerce  for  $3,500,  and  paid  Wages  of  Crew  of  Ship  Massachusetts  in 
^        M?.h,  as  follows  : 

10  mos.  @$120  1,200.00 

45 


Captain, 

liit  Mate,  10 

2d  Mate,  10 

Carpenter,  9 

Steward,  9 

^ook,  10 

10  Seamen,  9 

I  Boys,  9 


« 

It 
<{ 
a 


20  days 
20 


20 

20 


It 


€( 
tl 
(( 
u 
u 
tt 


Ship  Massachusetts  has  cost  value  in  Cash. 


450.00 

25  250.00 

25  241.67 

15  145.00 

13  130.00 

13  ea.  1,256.67 

T  "  135.33 


$3,808.67 


11th 


Our  'Tote,  No.  8,  favor  of  Caleb  Johnson,  was  paid  this  day  at  Phenix  Bank,  Am't   $15  255.90 

18th     — ' 

Mye-s  &  Wolbert,  Auctioneers,  have  sold  at  Auction  the  Teas  belonging  to 
Sales  of  Tea,  No.  3,  Amounting  pr.  their  Ac't-Salcs,  to  95,441.05 

Less  Auction  Duty,  and  Commission  2'  Jo  2,147.42    $93  293.03 

^^d'ofsedV\reif  °^''  ^'''  "^^^  ^^'  ^^'  ''°'^  ^^'  """  ^'*  ^"^''  ^^^^°  P^3'^^l«  @  ^  mos.,  and 

Sales  of  Tea,  No.  8,  have  produced  value  in  Bills  Receivable. 

— ^  24th 

^/J.  Maitland  &  Co  's  Note,  No.  9,  our  favor,  fell  due  and  was  paid  at  the  Bank  of  Commeroa 
i^^^y-     ^"^^ $4,657.25 


S 


137 


I 


>-  * 


HISTORY  AND  ELUCIDATIONS.  SET  YI. 


/, 


New  Fork^  June  1st,  1853. 


The  Total  Proceeds  of  Sales  of  Tea,  No.  3,  Am't  to 

Deduct  Charges  entered 

Additional  Charges,  Cartage 

Labor,  receiving  and  delivering 
1  mos.  Storage 
Interest  on  Charges  to  date 
Com.  and  Guar,  on  $93,293.63  @  5  % 
Net  Proceeds,  due  Adventure  to  Canton,  pr.  average,  Dec.  14th 


93,293.63 
6,000.00    $87,293.63 


110.00 
82.00 
64.00 


10th 


Sold  to  Fithian  &  Morris,  for  their  Note,  No.  16,  @  4  mos. 
1000  Rolls  V*  White  Matting,  40,000  Yds.,  @  21/ 

Sales  of  Matting,  No.  2,  has  produced  value  in  Bills  ReceiTable. 
11th       


256.00 

23.00 

4,664.68 

82,349.95 

187,293.63 


$8,400.00 


yllec'd  an  Account-Sales  from  Faxon,  Field  &  Co.,  Cincinnati,  of  Coflfee  belonging  to  Adventure 
to  Cincinnati,  Co.  C. 
Net  Proceeds  $9,422.72,  due  pr.  average  An^.  10th.     Our  J  is  $4,711.36 

Adrenture  to  Ciaciiuxati,Co.  C,  has  produced  Talue  in  the  indebtedness  of  Faxon,  Field  &  Co. 

((  - 


Paid  S.  P.  Nixon,    on  %  pr.  Check  on  Bank  of  Commerce 
Thos.  Harvey,  "    "    "        «       "      «      « 

. 15th 


/ 

^Th( 


u 


500.00 
450.00 


$950.00 


The  Total  Proceeds  of  Sales  of  Matting,  No.  2,  Am't  as  pr.  S.-B.  to     8,400.00 

Deduct  Charges  entered  3,928.00 

Additional  Charges,  Cartage 

Labor,  receiving  and  delivering 

Interest  on  Charges  to  date 

Com.  and  Guar,  on  $8,400,  @  5  % 


15.00 
30.00 


/ 


Net  Proceeds,  due  Adventure  to  Canton,  pr.  average  Feb.  23d,  1854 


18th 


$4,472.00  f 

45.00 

24.22 

420.00  * 

3,982.78 

$4,472.00 


i 


Bo't  of  Brown  &  Co.,  pr.  Check  on  Bank  of  Commerce,  a  Set  of  Exchange,  @  90  days'  sight^ 
on  Baring  Brothers  &  Co.,  London,  and  remitted  the  same  to  cover  Hughes,  lililler  &  Co.'i 
Drafts  from  Canton,  Jan.  1st,  @  6  mos.  sight,  due  in  London,  Oct,  3d,    £1,500 

London  Bankers  Com.  2  %  30    j£l,530. 

£1,530,  @  8  %  Prem.                                       $7,344.00 
20th    


Bal.  of  Int.  to  be  debited  Adventure  to  Canton,  pr.  Account-Current  of  date 
Net  Gains,  as  shown  by  the  Account- Current 


^ 


30th 


4,167.21 
11,783.56 

'$15;950r77 


Checked  on  Bank  of  Commerce  for  $900,  and  paid  in  Cash, 
Wages  of  Clerks 
Rent  of  Store 
Draymen  and  Laborers 


265.50 
400.00 


665.50 
237J0O  • 
$902.50 


« 


The  debit  Bal.  of  Interest  on  the  %  of  Ship  Massachusetts,  reckoned  to  July  1st,  is   $1,431.84 

Ship  Massachusetts  has  cost  Talue.    Interest  has  produood  Talue. 

((  — 


Int.  on  Capital  to  July  Ist 
(t      (t        ((         a      it        « 

James  L.  Grant  "      «       **        "     "       " 

Interest  has  cost  the  firm  Talue.    Each  partner  has  produced  the  firm  raloe. 


Due  Thos.  Harvey, 

•*    S.  P.  Nixon 
ti 


735.00 
735.00 
800.00 


$1,770.06 


138 


THOMAS  HARVEY  &  CO. 


DAY-BOOK  A,  SET  VI. 


129 


r     t 


it 


DAY-BOOK  A,  SET  VI. 

New-York,  July  2d,  1852. 


L.F. 


1 
1 
1 

1 
1 


2 
2 


2 
2 
8 

1 

2 


1 
1 
1 
1 


2 
2 
1 


Thomas  Harvey  and  Salmon  P.  Nixon  have  this  day  entered 
into  partnership,  as  pr.  articles  of  agreement.  , 


Sundries 

Ship  Massachusetts, 

Bills  Receivable, 

Sundries 

Bills  Receivahle, 


Merchandise, 
Expenses, 


To  Thomas  Harvey, 

Valued  at 

No.  1,  due  Aug.  10th,  pr.  B.-B. 


To   Salmon  P.  Nixon, 
No.  2,  due  July  20th,  pr.  B.-B. 
No.  3,    «    Aug.  30th,  "      " 
No.  4,   "    Sept  8th,    "     " 
No.  6,   "   Nov.  2d,      "     " 

Ginseng,  pr.  I.-B.,  fol.  1,  Am't 
Store  Fixtures,  valued  at 

9th  


4,500.00 

2,225.50 

C45.00 

1,960.75 


Adventure  to  Canton  To  Sundries, 

For  Mdse.,  as  pr.  O.-L-B.,  fol.  1,  shipped  on  board  Ship  Massa- 
chusetts, and  consigned  to  Hughes,  Miller  k  Co.,  Canton,  China, 
to  be  sold  for  our  %  and  risk,  and  for  Expenses  attending  Ship- 
ment   Due  pr.  Average,  Nov.  12th. 
To  Bills  Payable,  Paid  A.  A.  Lawrence  &  Co.,  for  Drills,  as 

pr.  I.-B.  fol.  1,  by  our  Notes,  No.  1,  @  4  mos.,  14,000.00 

No.  2,  «   6    "  14,000,00 

No.  3,  "  8    "  14,000.00 

Also  gave  our  Note,  No.  4,  @  12  mos.,  to  the  Atlantic 
Ins.  Co.  for  Ins.  on  $72,000  @  1^  %  and  Policy  1,081.25 

Merchandise,  Ginseng,  from  Store,  pr.  I.-B.,  foL  1 

Haines,  Hampton  &  Co.,  Bill  of  Lead         "     «      "    " 
Commission,  On  $63,000  @  22% 

16th 


n 
it 


25,000 
1,000 


9,331 

14,000 
600 


00 
00 


25 

00 
00 


Ship  Massachnsetts  To  Bills  Payable, 

Our  Note,  No.  5,  @  12  mos.,  favor  of  New  York  Ins.  Co.,  for 
Ins.  on  this  Ship  for  $27,500  @  7%  and  Policy 

3l8t 


Cash 


To  Toomas  Harvey, 
"  Salmon  P.  Nixon, 
"  Ship  Massachusetts, 
"  Bills  Receivable, 


To  Sundries, 


pr.  C.-B. 


2d 

u 

14th 
20th 


u 


Sundries 

Haines,  Hampton  &  Co., 

Ship  Massachusetts, 


To   Cash, 


a 


it 


pr.  C.-B. 

«  9th 

12th 
16th 


Aug.'2d 


American  Mutual  Ins.  Co.  To  Bills  Payable, 

Issued  our  Note,  No.  6,  @  12  mos.,  for  an  open  policy  of  Ins. 
on  all  Shipments  by  us,  or  Consignments  to  us,  during  the  year, 
within  the  limits  of  the  United  States  or  West  Indies,  until  the 
Prem.  on  the  same  amounts  to  the  Note. 


140 


43,081 

14,000 
7,000 
1,575 


1,160 


26,000 


23,931 


25 

00 
00 
00 


00 
60 


00 


25 


65,656 


1,926 


9,000  00 

11,068  75 

1,800  00 

4,500100 


26,368 


7,000 
1,165 


8,165 


2,000 


25 


25 


75 


00 
60 


60 


00 


DAY-BOOK  A,  SET  YI. 

New  York,  August  2d,  1852. 


L.F, 
3 


4 
4 
3 

3 
3 

2 
1 


2 
4 
4 
1 
1 
2 


8 
3 

2 
1 

3 
2 

8 
3 

3 
4 


1 

4 

1 

4 


Adventure  pr.  Bark  Phillis  To  Sundries, 

For  Mdse.  shipped  pr.  Bark  Phillis,  Bingham  master,  as  pr. 
0.-I.-B.,  fol.  1,  and  consigned  to  Daniel  Starr  A  Co.,  Kingston, 
Jamaica,  to  be  sold  for  our  %  and  risk,  and  for  Expenses  of 
Shipment 

To  Morton  &  Godwin,      Flour,  pr.  I.-B. 
"   Otis  &  Brother,  Meal  and  Com,  pr.  L-B. 

"  American  Mutual  Ins.  Co., 

For  Ins.  on  $9,000  @  3%  and  Policy 
Charges,^  Drayage  and  Labor 

"  Commission,  On  $8,080  @  22 ;5 


u 


31st 


Cash 


To  Bills  Receivable,  pr.  c.-B.,  loth 


30th 


tt 


Sundries 

Morton  &  Godwin^ 
Otis  &  Brother, 
Thomas  Harvey, 
S.  P.  Nixon, 
Expenses,  , 


To  Cash, 


pr.  C-B. 


2d 

u 

24th 

Slst 
*t 


■--  Sept.  22d 


Sales  for  %ofJohnGundry&  Co.      To  Charges, 

Drayage  on  500  Bbls.  Flour,  to  be  sold  for  %  and  risk  of  J. 
Gundry  A,  Co.,  Cincinnati,  Am't  pr.  Invoice,  $1,579.75 

30th  — 


Cash 


To  Bills  Receivable, 

€t        


pr.  C.-B.,  8th 


Sales  for  %  of  John  Gundi7&  Co.     To  Cash, 
=====^===  Oct.  5th  = 


pr.  C.-B.,22d 


i 


Adventure  pr.  Bark  Phillis  To  American  Mutual  Ins.  Co. 

Ins.  on  Excess  of  homeward  Cargo  from  Havana,  $6,000  @  l^% 

11th 


Adventure  pr.  Bark  Phillis  To  Suarez,  Brother  &  Co., 

For  Excess  of  Expenditures  by  Suarez,  Bro.  &  Co.,  Havana, 
for  %  of  this  Adventure,  over  the  proceeds  resulting  to  them 
from  same,  as  pr.  their  Ac't-Current,  and  other  Papers,  Rec'd  pr. 
Bark  Phillis. 

15th 

Bills  Receivable  To  Sales  of  Sugar,  No.  1, 

J.  Fallstaff  A  Co.'s  Note,  No.  6,  @  6  mos.,  for  Sugar  pr.  S.-B. 
— 18th 

Bills  Receivable  To  Sales  of  Sugar,  No.  1, 

Lyman  P.  Bache's  Note,  No.  7,  @  6  moa.,  for  Sugar  pr.  S.-B. 


141 


4,540  00 
3,540  00 


271 

71 

202 


25 

50 
00 


1,000  00 
2,225  50 


8,624  75 


3,225 


4,M0 

3,540 

130 


50 


00 
00 

00 


125!00 
95*00 


8,43000 


15 


045 


425 


75 


00 


00 


9000 


6,430 


16,455 


77 


00 


I 


6,240j00 


W 


DAY-BOOK  A,  SET  VI. 

New  York,  October  19/^,  1852. 


L.F. 

4 


3 
4 


o 
O 


4 
2 


3 
4 
4 

2 
4 
3 
3 
2 


Sales  of  Sugar,  No.  1  To   Sundries, 

The  total  sales  for  this  %  Am't  to  22,695.00 

Deduct  Duties  entered  11th  inet,  4,274.29     $18,420.71 

To  Charges,  Cooperage,  Storage  and  Labor 

*'    Interest,  On  Duties,  $4,274.29,  for  8  d'a 

"    Commission,  On  $22,695  %  2^% 

"    Adv.  pr.  Bark  Phillis,  Net  proceed?,  due  June  8th,  /53 

20th — 


Suarez,  Brother  &  Co.  To   Bills  Payable, 

Accepted  their  Bill  of  Exchange  on  us,  @  30  days'  sight 

22d  


Adventure  pr.  Bark  Phillis 
To  Interest, 
'<  Profit  &  Loss, 


To   Sundries, 
As  pr.  Ac't-Curront,  A.-C.-B.  fol.  1 
Net  Gains,  pr.  Ac't-Current 

30th — 


55 

5 

567 

17,792 


50 
70 
38 
13 


699 
822 


09 
52 


Sundries 

Sales  of  Sugar,  No.  1, 

Adventure  pr.  Bark  Phillis, 

Charges, 

Expenses, 


To   Cash, 


pr.  C.-B. 


11th 
12th 
30th 


5 
3 


End  of  first  year. 


—  November  1st,  1852. 


5 
3 


Sales  of  Pork,  Co.  A 

To  American  Mutual  Ins.  Co., 

Ins.  on  Pork  shipped  to  us  by  Faxon,  Field  A  Co.,  Cincinnati, 
as  pr.  Advice,  $10,000  @  1^% 
5th   ■ 


18,420 


6,430 


71 


5 
4 

2 
2 


Sales  of  Pork,  Co.  A  To   Sundries, 

Rec'd  from  Faxon,  Field  A  Co.,  Cincinnati,  1,000  Bbls.  Pork, 
Am't  pr.  Invoice  $9,256.25,  to  be  sold  on  joint  %. 
To  Faxon,  Field  &  Co.,     Our  i  Invoice 
"    Charges,  Draynge 

6th  — 


Bills  Receivable  To   Sundries, 

Rec'd  of  Jeremiah  Brown  his  Note,  No.  8,  @  30  days,  in  Pay't 
of  Pork  sold  to  him,  and  for  Discount. 

To  Sales  of  Pork,  Co.  A,  500  Bbls.  Pork  @  $11. 
"    Discount,  On  $5,530.42  for  33  days. 

8th  


4,628 
31 


Merchandise  To   Bills  Payable, 

Bo't  of  Caleb  Johnson,  on  our  Note  @  6  mos.,  No.  8,  Molasses, 
Sugar  and  Lard,  pr.  Invoice 

15th 


12 
25 


5,500 
30 


00 
42 


3  I  Sales  for  %  of  John  Gundry  &  Co.     To   Sundries, 

Rendered  J.  Gundry  A  Co.  an  Ac't-Salea  of  500  Bbls.  Flour, 

Total  Sales,  2,500.00 

Deduct  Charges  entered     440.75    $2,059.25 

Entry  continued 


1,521 


4,274 

1,125 

94 

495 


61 


29 
00 
75 
00 


5,989 


04 


150 


00 


4,659 


37 


5,530 


42 


15,255 


90 


II 


142 


DAY-BOOK  A,  SET  YI. 

New  York,  November  15th,  1852. 


L.F. 

3 
3 
5 


5 


4 
3 

3 
5 

5 
4 


2 
1 

3 
5 

2 


2 
5 
3 
5 
4 
2 


2 
2 

2 
5 
4 


5 
5 


Sales  for  %  of  J.  Gundry  &  Co.     To   Sundries  (continued). 
To  Interest,  On  $440.75  from  Sept  22d 

"    Charges,  Storage,  Labor,  Cooperage,  Ac. 

"  Commission,         .m...     On  $2,500  @  225^ 
"   John  Gundry  &  Co.,  Net  Proceeds,  due  12th  inst. 

15th 


Sales  of  Pork,  Co.  A  To   Sundries, 

Rendered  Faxon,  Field  A  Co.,  an  Ac't-Sales  of  1,000  Bbls.  Pork, 

Total  Sales  10,875.00 

Deduct  Charges  entered  1,031.25 

do.      and  Com.  as  below  465.19         1,496.44 

Net  Proceeds  $9,378.56 

To  Interest,  On  Charges  to  date 

Charges,  Storage,  Labor,  Cooperage,  Ac.         41.50 


w' 


tt 


rr 


3 

60 

62 

1,932 


"  Commission, 


Ins.  vs.  Fire,  $10,000  @  12^ 
On  $10,875  @  22  fo 


150.00 


"    Faxon,  Field  &  Co.,     Their  i  Net  Proceeds,  due  10th  inst 
i( 


Sales  of  Pork,  Co.  A  To  Profit  &  Loss, 

Our  i  Net  Proceeds  $4,689.28 
Our  i  First  Cost  4,628.12  therefore  we  have  gained 


Cash 


30th  - 


To  Bills  Receivable, 


To   Sundries,  pr.  C.-B. 


Sales  for  %  of  John  Gundry  &  Co., 
"  Sales  of  Pork,  Co.  A, 
"  Merchandise, 


2d 
10th 


« 


16th 


Sundries 

Sales  of  Pork,  Co.  A, 

Charges, 

Faxon,  Field  &  Co., 

Discount, 

Bills  Payable, 


i( 


To   Cash, 


pr.  C.-B. 


5th 
6th 

u 

10th 
12th 
22d 


Dec.  31st 


Cash 


To   Merchandise,     pr.  C.-B.,   6th 


« 


Sundries 

John  Gundry  &  Co., 

Interest^ 


97 
25 
50 
53 


191 
271 

4,689 


1,960 
5,530 


82 

50 

87 

28 


Sundries 


To   Cash, 


Jan.  15th,  1853 


pr.  C.-B.     • 

10th 


To   Bills  Payable, 
Our  Note,  No.  9,  @  6  mos.,  favor  of  Douglass,  Forest  A  Co.,  for 
two-thirds  Invoice  of  Sugars,  Molasses  and  Rice,  to  be  sold  for  the 
joint  %  of  Douglass,  Forest  A  Co.,  Faxon,  Field  A  Co.,  and  our- 
selves : — Am't  pr.  Invoice  $12,465.36. 
Sales  of  Mdse.,  Co.  B,  Our  i    of  Speculation 

Faxon,  Field  &  Co.,  Their  J "        « 


143 


42 


2,059125 


5,154  47 


14,000  00 
6,430  77 


4,155 
4,155 


61 


16 


7,491 17 

2,500!00 
5,375  00 


6,274 


21,640 


00 


17 


850  iOO 

226:25 

5,000  00 

26 


73 


20,430 


12 
12 


26,533 


7,875 


1,932 


77 
75 


00 


53 
9  02 


1,941 155 


8,31 0;24 


i! 


DAY-l^OOK  A,  SET  VI. 

New  York,  January  2\8t,  1853. 


L.F. 
1 


Bills  Receivable  To   Sales  of  Mdse.,  Co.  B, 

Rec'd  of  James  Maitland  A  Co.  their  Note,  No.  9,  @  4  mos.,  for 
a  Lot  of  Loaf  k  Crushed  White  Sugars.    Am't  pr.  S.-B. 

31st 


2 
1 

2 
4 
2 


2 
2 


Cash 


To  Bills  Receivable,  pr.  C.-B.,ioth 


« 


Sundiics 
Discount, 
Bills  Payable, 


To   Cash, 


pr.  C.-B. 


10th 
12th 


Feb.  1st 


Merchandise  To   Bills  Payable, 

No.  10,  @  6  mos.,  favor  of  Baily  A  Welsh,  for  CofiToe,  pr.  Invoice 

5th  


5 

5 
2 
3 

3 
3 

1 

5 


Sundries  To   Sundries, 

Consigned  to  Faxon,  Field  k.  Co.,  Cin'i,  an  Invoice  of  CofTee, 
as  pr.  O.-I.-B.,  to  be  sold  for  their  and  our  joint  %. 
Faxon,  Field  &  Co.,  Their  i  Adv. 

Adv.  to  Cincinnati,  Co.  C,        Our  \      "  ;, 

To  Merchandise,  2000  Sacks  CofFe*  *-  * 

"  American  Mutual  Ins.  Co., 

Ins.  on  $9,500  @\*% 

Dray  age.  Labor,  Weighing,  Ae. 

On  $8,548.80  @  2^^ 


"  Charges, 
"  C<;mmission, 


19th 


3 
5 
5 


2 
2 
3 


Bills  Receivable 


To  Sales  of  Mdse.,  Co.  B, 

Note  of  W.  G.  Gaylord,  No.  10,  @  10  d's,  for  Rice,  as  pr.  S.-B. 
28th 


Sales  of  Mdse.,  Co.  B  To   Sundries, 

Rendered  Faxon,  Field  A  Co.  and  Douglass,  Forest  A  Co.  each 
an  Account-Sales.    Am't,  as  pr.  S.-B.  7,688.75 

Deduct  Charges  A  Com.  as  below  496.56 

Net  Proceeds  $7,092.19 

Ins.  vs.  Fire  on  $6,500  @V%         97.50 
Cooperage,  Weighing  A  Labor  19.C2 

*'  Commission, 


To  Charges, 


Com.  A  Guar,  on  $7,588.75  @  5% 
"    Faxon,  Field  &  Co.,    Their  i  Net  Proceeds,  due  Apr.  27th 
"  Douglass,  Forest  &  Co.,   " 


u     u 


tt       u       u 


tt 


Sundries 

Expenses, 

Charges, 


To  Cash, 


pr.  C.-B. 


28  th 


144 


4,483 
4,483 


4,G57 


16,455 


11 
11 


268 
14,000 


14,268 


26 


00 


77 
00 


77 


117 

379 
2,364 
2,364 


12 
44 

06 
06 


8,548 


8,548 

142 

61 

213 


80 


2,931 


80 

50 
20 
72 


50 


5,224 


510 
195 


705 


68 


00 
00 


00 


THOMAS  HARVEY  &  CO. 


DAY-BOOK   B.  SET  YI. 


145 


^» 


DAY-BOOK  B,  SET  VI. 

New  York,  March  4th,  1853. 


4 


2 
2 


1 
1 

1 
4 
2 

2 
3 


3 
2 
3 

3 
3 


1 

o 

4 
4 
2 


2 
4 


1 

2 


Watson  G-.  Gaylord  To  Bills  Receivable, 

Note  No.  10  protested  at  Bank  of  Commerce 

25th    


Adventure  to  Canton  To  Bills  Payable, 

For  Note  No.  11,  @  6  mos.,  to  the  Atlantic  Ins.  Co.,  for  Ins. 
on  Cargo  homeward  from  Canton,  $75,000  @  1'  %  and  Policy 

31st     . 


Cash 


To  James  L.  Grant,  pr*  C.-B.,    lot 


(( 


Sundries 

Watson  G.  Gaylord, 

Bills  Payable, 


To  Cash, 


pr.  C.-B. 

4th 
12th 


Apr.  9th 


Bills  Receivable  To  Sales  of  Mdse.,  Co.  B., 

Rec'd  of  Leonard  Barber  A  Co.  their  Note,  No.  11,  @  6  mos., 
for  Sugars  and  Molasses,  Am't  pr.  S.-B 

i(        . — . 


3    Sales  of  Mdse.,  Co.  B 


To  Sundries, 


Rendered  to  Faxon,  Field  A  Co.  and  Douglass,  Forest  A  Co., 
Account-Sales  of  Sugars  and  Molasses,  belonging  to  this  Co., 
Am't  pr.  S.-B.,  6,625.00 

Deduct  Charges  and  Com.  as  below  383.60 

Net  Proceeds 
To  Charges, 


$5  141.40 


Ins.  vs.  Fir«  on  $«,500  @  1"  % 
Cooperage,  Weighing,  Labor,  Ac. 
"  C'Ommission,  Com.  A  Guar,  on  $5,525  @  6  % 

"   Faxon,  Field  &  Co.,  Their  i  Net  Proceeds,  due  Oct  26th 

"  Douglass,  Forest  &  Co., " 


97.50 
9.86 


«    « 


<i 


u       u 


it 


Profit  &  Loss 


To  Sales  of  Mdse.,  Co.  B., 


For  our  Net  Loss  on  Sales  effected  for  Co. 

-    30th    


Cash 


To  Bills  Receivable, 
"  Watson  G.  Gaylord, 
"  Interest, 
"  Merchandise, 


To  Sundries, 


pr.  C.-B. 

21  St 
26th 

n 
30th 


May  6th 


Sundries  To  Adventure  to  Canton, 

Hughes,  Miller  &  Co.,  Bal.  in  our  favor,  payable  in  Canton,  as  pr. 

their  Ac't-Current,  and  other  Papers  Rec'd  pr.  Ship  Mass.   . 
Discount,                                          On  $1,682.36  @  6  % 
II 


Ship  Massachusetts  To  Adventure  to  Canton, 

Expenses  of  the  Ship,  at  Canton,  as  pr.  Account-Current  of 
Hughes,  Miller  A  Co.,  $1,966.20,  with  6  %  Dis.  added 


146 


107 

276 

1,713 

1,713 


35 
25 

80 
80 


1,598 

84 


24 
12 


2,931 


1,133 


15,000 
» 


50 


75 

00 


1 

14,000 


14,001 


50 
00 

50 


5,525 


3,811 


106 


00 


6,240 

2,933 

25 

1,945 


20 


45 


11,144 


00 
CO 
91 
60 

51 


1,682  36 


2,069 


6S 


^-^ 


%. 


DAY-BOOK  B,  SET  VI. 

New  York,  May  dfh,  1853. 


L.  F. 
1 

4 
4 

2 
4 


Sundries  To  Ship  Massachusetts, 

Sales  of  Matting,  No.  2,  Freight  on  126  Tons  @  $20. 

Sales  of  Tea,  No.  3,  «      «  300    "     «    20. 

-^ _    18th    __^ 


1 
1 
2 

1 
4 
1 
2 


Bills  Receivable  To  Sales  of  Tea,  No.  3, 

Rec'd  of  Myers  A  Wolbert,  Auctioneers,  Notes  No.  12, 13, 14 
and  15,  @  6  mos.,  as  pr.  B.-B.,  endorsed  by  them,  in  Pay't  of 
Teas  sold,  Am't  pr.  their  Ac't-Salcs  95,441.05 

Less  Auction  Duty  and  Com.  2»  %  2,147.42 

• 31st     ~" 


Cash 


To  Ship  Massachusetts, 
"  Bills  Receivable, 


To  Sundries, 


pr.  C.-B. 

9th 
24th 


(( 


4 
3 
2 

2 
4 


2 

3 


Sundries 

Sales  of  Matting,  No.  2, 
Ship  Massachusetts 
Bills  Payable, 


To  Cash, 


pr.  C.-B. 

9th 

*( 

11th 


=  June  1st 


Sales  of  Tea,  No.  3  To  Sundries, 

Total  Proceeds  of  Sales  of  Tea  93,293.63 

Deduct  Duties  entered  6,000.00  $87.293.63 

To  Charges,  Cartage  110.00 

Labor  receiving  A  delivering  82.00 

1  mo.  Storage  64.00 

"  Interest,  On  Charges  to  date  " 

"   Commission,  Com.  A  Guar,  on  $93,293.63  @  5  % 

"  Adventure  to  Canton,  Net  Proceeds,  due  Dec.  14th 

10th 


Bills  Receivable  To  Sales  of  Matting,  No.  2, 

Rec'd  of  Fithian  A  Morris,  their  Note,  No.  16,  @  4  mos.,  for 
1,000  Rolls  J  White  Matting,  40,000  Yds.  @  21/* 
11th 


4 
3 
2 

2 
4 
3 


Faxon,  Field  &  Co.  To  Adventure  to  Cincinnati,  Co.  C, 

Rec'd  from  them  an  Account-Sales  of  Coffee  belonging  to  this 
Adventure.  Net  Proceeds  $9,422.73  due,  pr.  average,  Aug.  10th. 
Our  i  is 

— 15th    - . 


Sales  of  Matting,  No.  2  To  Sundries, 

Total  Sales  of  Matting,  pr.  S.-B.,  8,400.00 

Deduct  Charges  entered  3,928.00  $4,472.00 

To  Charges, 


Cartage 

Labor  receiving  A  delivering 
"  Interest,  On  Charges  to  date 

"  Commission,  Com.  A  Guar,  on  $8,400  @  5% 

"  Adventure  to  Canton,  Net  Proceeds,  due  Feb.  23d  /54 

— 20th 


15.00 
30.00 


Adventure  to  Canton 
To  Interest, 
"  Profit  &  Loss 


To  Sundries, 

Debit  Bal.,  pr.  Ac't-Current  of  date 
Net  Gains, 


a 


ti 


(( 


it       a 


147 


2,500 
6,000 


00 
00 


256 

23 

4,664 

82,349 


00 
00 

68 
95 


45 

24 

420 

3,982 


4,167 
11,783 


00 
22 
00 

78 


21 

56 


8,500  00 


93,293  63 


5,000 
4,657 


9,657 


00 
25 


25 


1,428  00 

3,808 167 

15,25590 


20,492  57 


87,293 


8,400 


63 


00 


4,711 36 


4,472  00 


15,95D 


77 


.i:* 


i 


3 


DAY-BOOK  B,  SET  VI. 

New  York,  June  30/A,  1853. 


L.F. 
1 


4 
1 
1 
1 


1 
1 
1 
2 
4 
3 


Ship  Massachusetts  To  Interest, 

Debit  Bal.of  Int.  on  the  Ship's  %,  to  July  Ist 

\ 30th     


Interest 

To  Thos.  Harvey, 
"  S.  P.  Nixon, 
"  Jas.  L.  Grant, 


Sundries 
S.  P.  Nixon, 
Thos.  Harvey, 
Adventure  to  Canton, 
Expenses, 
Charges, 


To  Sundries, 

Int  on  Capital  to  July  Ist 


«    « 
ft    « 


u 
u 


u     u 

M       M 


M 


To  Caah, 


148 


\ 


THOMAS  HARYEY  &  CO 

CASH-BOOK,  SET  YI. 


149 


/ 


^52. 

July 
u 


Dr.  / 


CASH-BOOK,  SET  VI. 

Cash, 


Aug. 


Sept. 


(4 


Oct. 


Nov. 
it 

a 
(% 
t( 


Deck 


• 


o 

14 

20 


2 

10 
30 


1 

8 


1 

2, 

10 

u 
t( 

16 


1 

6 


To  Thomas  Harvey, 
"  Salmon  P.  Nixon, 
*^  Ship  Massachusetts, 
"  Bills  Receivable, 


Amount  invested 


« 


Passage  money  of  6  Passengers  to  Canton 
No.  2,  collected  at  Phenix  Bank 


To  Balance, 
"  Bills  Receivable, 
Bo. 


(I 


Brought  down  from  July  Slst 

Ko.  1  collected  at  Phenix  Bank 

No.  3,        **       **  Bank  of  Commerce 


To  Balance, 
"  Bills  Receivable, 


From  Aug.  Slst 

No.  4,  collected  at  Bank  of  Commerce 


To  Balance^ 


From  Sept.  SOth 


9,000 
11,068 

1,800 
4,500 


26,368 


18,203 
1,000 
2,225 


21,428 


12,998 
645 


13,643 


13,218 


To  Balance,  From  Oct  30th 

'*  Bills  Receivable,  No.  5,  collected  at  Bank  of  Commerce 

"  Sales  for  %  of  John  Gundry  &  Co., 

500  Bbls.  Flour,  sold  H.  S.  Pierson  A  Co.,  @  $5. 
600      "        "        "  "  "  $10.75 

No.  8,  discounted  at  Phenix  Bank 
Sale  to  J.  Maitland  A  Co.,  Am't  pr.  S.-B. 


"  Sales  of  Pork,  Co.  A., 
"  Bills  Receivable, 
"  Merchandise, 


13,218 


7,229 
1,960 

2,500 
5,375 
5,530 
6,274 


To  Balance, 
V  Merchandise, 


From  Nor.  30th 

Sale  to  Stiles  &  Nesmith,  Am't  pr.  S.-B. 


2,336 

7,875 


•  150 


00 
75 
00 
00 


75 


15 

00 
50 


65 


65 
00 


65 
65 


65 

61 
75 

00 
00 
12 
00 


78 

03 
00 


1852. 
July 


a 


Aug. 


tt 


Sept. 


Oct. 


<( 
« 
« 


Nov. 
a 

tt 

tt 
tt 
tt 
tt 


Dec. 


tt 
tt 


CASH-BOOK,  SET  VI. 

C(ish. 


Cr. 


9 
12 
16 
31 


2 
tt 

24 

31 

tt 

tt 


22 
30 


11 
12 

30 

it 

tt 


5 
6 

tt 

10 
12 
22 
30 


10 

tt 

31 


By  Haines,  Hampton  &  Co.,  Paid  for  Bill  of  Lead 
^^  Ship  Massachusetts, 
"  Do, 

"  Balance^ 


"    various  Bills  for  Provisions  and  Water 
"    Custom  House  charges  for  Clearance 
In  Bank  of  Commerct  $4,800.00 

"  Phenix  Bank  13,100.00 

**  Sa/e  303.15 


By  Morton  &  Godwin, 
"  Otis  &  Brother, 
"  Thomas  Harvey, 
"  S.  P.  Nixon, 
"  Expenses, 
"  BalancCj 


For  Flour,  pr.  L-B. 
"    Meal  and  Com,  pr.  I.-B. 

tt    tt 

Wages  of  Clerks 

In  Bank  of  Commerce 

"  Phenix  Bank 

"  Safe 


$3,360.50 

9,560.00 

78.15 


By  Sales  for  ^  of  John  Gundry  &  Co., 

Freight  on  500  Bbls.  Flour  from  Cincinnati,  on  consignment 
"  Balance,  /«  Bank  of  Commerce 

«  Phenix  Bank 
"  Sa/e 


$4,005.50 

9,135.00 

78.15 


By  Sales  of  Sugar,  No.  1,       Duties  on    Invoice    of   Sugar    from    Havana,  Am't 
$14,247.63  @  30  % 

"  Adventure  pr.Bark  Phillis,  Paid  Hollister,  Son  &  Co.,  BaL  of  Charter  money 
$1,000,  and  5  days'  Demurrage  $125. 

"  Charges,  Paid  Draymen  A  Laborers 

''  Expenses,  Wages  of  Clerks  $95,  Rent  of  Store  $400. 

"  BalanCCj  In  Bank  of  Commerce  $4,005.50 

"  Phenix  Bank  3,135.71 

"  Sa/e  88.40 


By  Sales  of  Pork,  Co.  A.,       Freight  on  1,000  Bbls.  Pork,  from  Cincinnati 
'^  Charges,  Effected  Ins.  in  the  Saratoga  Fire  Ins.  Co.,  on  Stock 

of  Goods  in  Store,  for  one  year,  to  the  Am't  of  $15,000  @  V  %,  A  Policy 

"  Faxon,  Field  &  Co.,  Remitted,  as  pr.  their  Order  of  Ist  inst,  a  Bill  of  Ex- 

change  on  Bitcon  A  Boswell,  Cin'i,  purchased  @  par  of  Clark,  Prime  A  Co. 

"  Discount,  >  ,  On  Bills  Rec.  No.  8,  pr.  contra,  for  29  days 

"  Bills  Payable,  No.  1,  paid  at  Phenix  Bank 

"  Do.  .  No.  7,    "     "  Bank  of  Commerce 

*^  Balancef  '  In  Bank  o/  Commerce  $583.23 

"  Phenix  Bank  1,664.40 

«  Sa/e  88.40 


By  John  Gundry  &  Co., 
"  Interest, 
"  Balance, 


Paid  to  J.  Buchanan,  pr.  their  Order 
On  the  above  from  Nov.  12th 
In  Bank  o/  Commerce 

«  Phenix  Bank 

«  Sa/e 


7,000 
1,160 


1  8,2  0  3 


26,368 


4,540 

3,540 

130 

125 

95 


1  2,9  9  8 


00 
00 

60 


1  5 


70 


21,428 


425 


1  3,2  1  8 


13,643 


4,274 

1,125 

94 

495 


7.2  2  9 


13,218 


850 

226 

5,000 

26 

14,000 

6,430 


2,3  3  6 


00 
00 

00 
00 
00 


65 

65 


00 


6  5 

65 


29 

00 
75 
00 


61 


28,869 


$6,516.68 

1,664.40 

88.40 


1,932 
9 


8,2  6  9 


10,211 


161 


I 


65 
00 

25 

00 
73 
00 
77 


03 


78 

53 
02 


4_8 
03 


.:«« 


:^ 


^A 


2 


JDr. 


CASH-BOOK.  SET  VI. 

Cash, 


1853. 

Jan. 
it 


Feb. 


Mar. 


1 


Apr. 

u 
il 

(( 
l( 


May 


ti 


June 


1953. 

July 


1 
21 
26 

It 
30 


2 
9 


To  Balance, 

"  Bills  Eeceivable, 


To  Balance, 
"  James  L.  Grant, 


From  Feb.  28th 

Am't  invested  on  entering  the  Una 


9,750 

15,00«'00 


To  Balance,  From  M«r.  Slst 

"  Bills  Receivable,  No.  7,  collected  at  Phenix  Bank 

"  Watson  G.  Gaylorcl,  Rec'd  in  full  for  Note  No.  10,  protested  at  Bank  of -G»m- 

mcrce  on  the  4th  nit,  and  charged  to  his  <^— Note  $2,931.50,  Protest  $1.50 
"  Interest,  On  $2,933,  for  53  days 

*'  Merchandise,  Sale  to  Peter  Parker,  pr.  S.-B. 


24,750 


To  Balance,  From  Apr.  30th 

"  Ship  Massachusetts,  Rec'd  of  John  Hollingshead  A  Co.  for  Freight  from 

Canton,  250  Tons  @  $20  pr.  Ton 

"  Bills  Beceivable,  No.  9,  collected  at  Bank  of  Commeroe 


10,749 
6,240 

2,933 

25 
1,945 


21,893 


21,893 


71 


21 

00 

00 
91 

60 


72 
72 


To  Balance, 


From  May  Slst 


To  Balance, 


152 


CASH-BOOK,  SET  YI. 

Cask. 


Or. 


1853. 

Jan. 


« 


Feb. 

u 

il 


Mar. 

u 


u 


Apr. 


May 


ti 
tt 

u 


June 
it 

tt 


tt 
tt 
tt 


10 
12 

31 


28 
tt 

tt 


By  Discount, 
"  Bills  Payable 
"  Balance^ 


On  Bills  Rec.  No.  6,  pr.  contra,  for  98  days 

No.  2,  paid  at  Phenix  Bank 

In  Bank  of  Commerce  $6,516.68 

"  Phenix  Bank  3,850.63 

"  Safe  88.40 


By  Expenses, 
"  Charges, 
"  Balance, 


Wages  of  aerks  $110,  Rent  of  Store  $400. 
Paid  Laborers  &  Draymen 
In  Bank  of  Commerce 

"  Phenix  Bank 

"  Safe 


$5,811.68 

3,850.63 

88.40 


268 

14,000 

1  0,4  5  5 


24,724 


12 

31 


30 


9 

tt 

11 

31 


12 

tt 

18 


By  Watson  G.  Gaylord, 
"  Bills  Payable, 
**  BalancCf 


B^  Balance^ 


Paid  Protest  of  his  Note,  No.  10 
No.  3,  paid  at  Phenix  Bank 
In  Bank  of  Commerce 

"  Phenix  Bank 

"  Stife 


In  Bank  of  Commerce 
"  Phenix  Bank 
"  Safe 


$5,811.68 

4,850.63 

86.90 


$5,811.68 

15,536.23 

545.81 


510 

195 


9,7  5  0 


t  I 

00 


7_1_ 

48 


10,455 


1 

14,000 


00 
00 


71 


71 

50 
00 


1  0,7  4  9  2  1 
24,750  71 


2  1,8  9  3 


By  Sales  of  Matting,  No.  2,  Dnties  on  Invoice  from  Canton,  $5,712  @  25  Jg 
"  Ship  Massachusetts,  Wages  of  Crew 

No.  8,  paid  at  Phenix  Bank 

In  Bank  of  Commerce^  $10,  540.93 

"  Phenix  Bank  280.33 

*'  Safe  237.14 


«  Bills  Payable, 
"  Balance, 


tt 
tt 


On^jg 


tt 


30 

tt 

ft 


By  S.  P.  Nixon, 
Thomas  Harvey, 

Adventure  to  Canton,  Bo't  of  Brown  &  Co.  a  Set  of  Exchange,  @  90  days' 
sight,  on  Baring,  Brothers  A  Co.,  London,  and  remitted  the  same  to  cover 
Hughes,  Miller  A  Co.'s  Drafts  from  Canton,  Jan.  lst»  @  6  mos.'  sight,  due 
in  London  Oct  3d,  £1,500,  and  for  London  Banker's  Com.  2  %  £30.  Total 
£1,530,  @  8  %  Prem. 

Expenses,  Wages  of  Clerks  $265.50,  Rent  of  Store  $400 

Charges,  Paid  Draymen  A  Laborers 

"  Balance,  In  Bank  of  Commerce  $1,346.93 

"  Phenix  Bank  280.33 

"  Safe  234.64 


tt 
tt 


21,893 


1,428 

3,808 
15,255 


11.0  5  8 


72 


72 


31,550  97 


500 
450 


00 
67 
90 


40 


00 
00 


7,344 
665 


>37 


1,8  61 


11,058  40 


00 

50 
00 


90 


u 


15S 


} 


-<^eC^ 


THOMAS  HARYEY  &  CO 

LEGER  A. 

SET  VL 


INDEX. 


II 


A. 

Adventure  to  Canton      .        -        -        -  1 

American  Mutual  Ins.  Co.   -        -        -  3 

Adventure  pr.  Bark  Phillis     -        -        -  3 

Adventure  to  Cincinnati,  Co.  C    -        -  5 

Bills  Receivable     -----  1 

BiUs  Payable 2 

Cash      -        - 2 

Commission        -----  3 

Charges         ------  3 

Douglass,  Forest  &  Co.   -        -        -        -  5 

B. 

Expenses       ------  2 

F. 

Faxon,  Field  &  Co.         -        -        -        -  5 

G. 

Gundry,  John  &  Co.       -        -        -        -  5 


H. 


Harvey,  Thomas 
Haines,  Hampton  &  Co. 


I. 


Interest  - 


IL 


1 

2 


.    4 


Merchandise     - 
Morton  &  Godwin 


2 

4 


H. 


Nixon,  Salmon  P. 


o. 


Otis  &  Brother 


P. 


Profit  &  Loss 


V  .J» 


a 


Ship  Massachusetts  -        -        -    " 
Sales  for^  of  John  Gundry  &  Co. 
Sales  of  Sugar,  No.  1        -        - 
Suarez,  Brother  &  Co.  - 
Sales  of  Pork,  Co.  A 
Sales  of  Merchandise,  Co.  B 


4 


-    1 


1 
3 

4 
4 
& 
5 


4 

1% 


155 


V*' 


k&^ 


Dr. 


LEGER  A,  SET  YI. 

Thomas  Harvey. 


Cr. 


#^ — 

/  1852. 
Aug. 
Oct. 


853. 
Feb. 


31 

30 


To  Cash 

^'BaliNet  Cap.)toNew% 


28 


To  Bal.  to  Leger  Ej  fol. 


130 
3  6,2  3  4 


36,864 


00 

86 


85 


3  6,8  2  4 


0  2 


1862. 

July 

u 

Oct. 

1862. 

Nov. 

1863. 

Feb. 


2 

31 

30 


1 

28 


By  Sundries 
<'    Cash 
"   Profit  &  Loss 


u.ooo.oo 


By  Bal.  fr.  Old  % 
«  Profit  &  Loss 


Dr. 


Salmon  P.  Nixon. 


•% 


Cr. 


1862. 

Aug. 
Oct. 


1863. 

Feb. 


31 

30 


To  Cash 

''BaUNet  Cap.)toNew% 


28 


To  Bal.  to  Leger  B,  fol. 


125 
3  6,2  3  9 


36,364 


S  6,8  2  9 


&■■:• 


\- 


00 

84 


84 


0  2 


1852. 

July 

u 

Oct. 

1852. 

Nov. 

1853. 

Feb. 


2 

31 
30 


1 

28 


By  Sundries 
"   Cash 
"   Profit  &  Loss 


85,000.00 


By  Bal.  fr.  Old  % 
«  Profit  &  Loss 


23,931 

11,068 

1,364 


36,364 


36^39 
589 


25 
75 

84 

84 
18 


Dr. 


Ship  Massachusetts. 


Cr. 


1852. 

^-    July 
li 

2 

16 

31 

J  ■; 

To  Thomas  Harvey 
*<  Bills  Pay. 
«  Cash 


»,oei.86 


25,000 
1,926 
1,165 


28,091 


00 
25 
60 


85 


1852. 

July 

1853. 
Feb. 


31 

28 


By  Cash 
"  Bal.  to  Leger  B,  fol 


1,800 
2  6,2  9  1 


28,091 


00 

85 


85 


Dr. 


Bills  Beceivable. 


Cr. 


1852. 

JWy 

Oct. 

it 


1852. 

Nov. 

n 

1853. 
Jan. 
Feb. 


2 

(( 

15 

18 


1 
6 

21 
19 


To  Thomas  Harvey 
"  S.  P.  Nixon 
«  Sales  No.  1 

n,ou.s5 


To  BaL  fr.  Old  % 
"  Sundries 


"  Sales  Co.  B 


n,T74J9 


1,000 

9,331 

16,455 

6,240 


33,026 


00 
25 
00 
00 


1862. 

July 

'Aug. 

Sept. 

Oct. 


24,655 
6,530 

4,657 
2,931 


37,774 


31 

a 

30 


2^ 

•1852 

75  Nov. 

I  Jan. 
25  Feb. 
50 


92 


30 
31 

28 


By  Cash 


a 
it 


«  Bal.  to  New  % 


By  Cash 


M70.S0 


(( 


(( 


e,Me.iT 
«  Bal.  to  Leger  Bj  fol 


4,500  00 
8,225  50 


645 

2  4,6  6  5 


33,026  25 


00 
75 


7,491 
16,455 

1  3,8  2  8 


17 

00 


37,77492 


Dr. 


Adventure  to  Canion. 


Cr. 


1852. 

/|,  July 


9 


To  Sundries 


65,656 


25 


1863. 
Feb. 


28 


By  Bal.  to  Leger  B,  fol. 


2 


6  6,6  5  6 


25 


156 


LEGEE  A,  SET  VI, 


.9r. 

Cash. 

Or. 

^'yU^^. 

1852. 

1 

i^Julj 

n 

To  Sundries 

1 

26,368 

75 

July 

31 

By  Sundries 

1 

8,165 

60 

Aug. 

*i 

''  Bills  Rec. 

2 

3,225 

50 

Aug. 

ii 

H               i( 

2 

8,430 

00 

Sept. 

^0 

a         a 

»,M».l5 

2 

645 

00 

Sept. 

30 

"   Sales  for  J.  G.&  Co. 

2 

425 

00 

Oct. 

li 

"   Sundries 

3 

6,989 

04 

•              ^„,y'''^^ 

25 

ii 

1  Q  CO 

(( 

«  Bal.  to  New  %'^'"*' 

7,2  2  9 

6  1 

1852. 

Nov. 

30,239 

30,239 

25 

1 

To  Bal.  fr.  Old  % 

7,229 

61 

Nov. 

30 

By  Sundries 

4 

26,533 

75 

t( 

80 

"  Sundries 

4 

21,640 

17 

Dec. 

31 

U                  ii 

4 

1,941 

55 

Dec. 

31 

"  Md6e. 

4 

7,875 

00 

1853. 

1853. 

Jan. 

it 

it              u 

5 

14,268 

i  4 

Jan. 

it 

"  Bills  Kec.        88,i99.w 

5 

16,455 

00 

Feb. 

28 

it           ft 

4S,4tt.in 

5| 

706 

00 

__^^-^^^ 

a 

it 

"  Bal.  to  Leger  B,  fol. 

1  1 

9,7  5  0 

71 

53,199 

78 

53,199 

78 

1 

Br. 


Merchandise. 


Cr. 


1«52. 

V  July 

'      1852. 

Nov. 

1853. 

Feb. 
it 


To  S.  P.  Nixon 


8 


To  Bills  Pay. 


t(  u  \ 

n.MM.TO 

2  8"  PnyJU  <&  Loss  {gain) 


1 

3 
5 

4 


14,000 


15,255 
8,548 

838 


24,643 


00 


90 

80 

70 


40 


1852. 
July 
1852. 

Nov. 
Dec. 
1863. 

Feb. 
it 


30 
31 

6 

28 


By  Adv.  to  Canton 
By  Cash 

"  Sundries  ri,mM 

"  Bal.  to  Leger  Bj  fol. 


4 
4 

5 

2 


14,000,00 


6,27400 
7,875,00 


8,648,80 

1,9  45  •• 


24,^3140 


Dr. 

Bills  Payabli 

0 

J. 

Cr. 

1862. 

1852. 

1 

'^yOct. 

t/ 

30 

To  Bal.  to  New  % 

6  3,4  3  8  2  7 

July 

9 

By  Adv.  to  Canton 

1 

43,081  25 

^y^ 

it 

16 

"   Ship  Mass. 

1 

1,926  25 

^^^ 

Aug. 

2 

"   Amer.  Mut.  Ins.  Co. 

1 

2,000 

00 

•         ^/^ 

Oct. 

1862. 

Nov. 

20 

"   Suarez,  Bro.  &  Co. 

,         5S,438.n 

3 

6,430 

77 

f  ft>l9 

53,438 

27 

53,438 

27 

Nov. 

30 

To  Cash 

4 

20,430 

77 

1 

By  Bal.  fr.  Old  % 

1  53,438 

27 

1853. 

it 

8 

"   Mdse. 

8 

15^55 

90 

Jan. 

31 

it    it 

$4,130.77 

5 

14,000 

00 

1853. 

Feb. 

28 

«  Bal.  to  Leger  By  fol. 

2 

6  1,1  2  2 

44 

Jan. 

15 

"   Sundries 

4 

8,310p4 

^^^^.^-^ 

Feb. 

1 

"   Mdse. 

K,5SS.n 

5 

8,548 

80 

^^.-^-^^^ 

85,553 

21 

85,553 

21 

1      1 

1                                                                                    ;■"' 

Dr. 

Expenses. 

Cr. 

^1852. 

July 
Aug. 
Oct. 

1853 

2 
31 
30 

28 

To  S.  P.  Nixon 

"   Castf 

ti    .  it 

1.190.00 

To  Cash 

1 
2 
8 

5 

600 

95 

495 

00 
00 
00 

1852. 

Oct. 

1863. 

Feb. 

30 

28 

By  Profit  &  Loss  (loss) 
By  Profit  &  Loss  (loss) 

4 

4 

1,19  0 

00 

Feb. 

510J00 

61000 

1 

1 

1 

Dr. 

Ha 

ines,  Hampti 

m 

&Co. 

Cr. 

4»    1862. 

i.  July 

31 

To  Cash 

1 

7,000  00 

1862. 

July 

1 

9 

By  Adv.  to  Canton 

1 

7,000  00 

_ 

i 

" 

157 

Dr. 


LEGER  A,  SET  VI. 

Commissioji.    ^v 


Cr. 


1852. 

^    Oct. 


Feb. 


30 


28 


To  Profit  &  Loss  (gain) 


To  Profit  &  Loss  (gaiii) 


2,3  4  4 


927 


I  1852. 

3  8  July 
Aug. 
Oct. 

1852. 

Nov. 

1853. 

Feb. 


53 


9 

2 
19 

15 
u 

5 

28 


By  Adv.  to  Canton 
"  Adv.  pr.  Phillis 
"   Sales  No.  1      ymM 

By  Sales  for  J.  G.&  Co. 
"  Sales  Co.  A 


"   Sundries 
"  Sales  Co.  B 


VttM 


4 

5 
5 


1,575 

202 
567 


62 
271 

213 
379 


00 

00 
38 

50 
87 

72 
44 


Dr. 


Charges, 


/  1862. 

XOct. 


30 


1852. 

Nov. 

1853. 

Feb. 

u 


30 

28 


To  Cash 
"  Profits  Loss  (gain) 


94 

48 


142 


To  Cast 
«   Profit  &  Loss  (gain) 


75 

0  0 

75 


226 
195 

40 


25 
00 

07 


461 


1852. 

Aug. 

Sept. 

Oct. 

1852. 

Nov. 

ii 

it 

1853. 

Feb. 

ii 


2 

22 

19 


32 


5 
15 

5 

28 


By' Adv.  pr.  Phillis 
"    Sales  for  J.  G.&  Co. 
"   Sales  No.  1 

liS.TS 


By  Sales  Co.  A 
"   Sales  for  J.  G.&  Co. 

"   Sales  Co.  A 


"   Sundries 
"   S^es  Co.  B 


71 
15 
55 


«ii.a 


142 

31 

60 

191 

01 
117 


46; 


50 
75 

50 

To 

2o 
25 

50 

20 
12 

82 


Dr. 


American  Mutual  Inmrance  Co, 


Cr, 


1862. 

Aug. 


1852. 

Nov. 


To  Bills  Pay. 


To  Bal.  fr.  Old*  % 


2,000 


1,638 


00 


75 


1852. 

Aug. 

Oct. 

Ii 

1862. 

Nov. 

!l853. 

Feb. 


2 

5 

30 


By  Adv.  pr.  Phillis 

a  ii 

"  Bal.  to  New  % 


9C1.1& 


5 

28 


By  Sales  Co.  A 

"   Sundries  rn.w 

"  Bal.  to  Leger  B,  fol 


150  00 
142;50 

1,34«2  5 


Dr. 


Adventure  pr.  Bark  Phillis. 


^^   1852. 

'     Aug. 

Oct. 

ii 

it 
a 


5 
11 
22 
30 


To  Sundries 
«   Amer.  Mut.  Ins.  Co. 
"   Suarez,  Bro.  '&  Co. 
"  Sundries 
<<    Cash  i7.7w.is 


2 
2 
2 
3 
3 

8,624175 

9o;oo 

6,430  77 
1,521 61 
1,12500 

1862. 

Oct. 

17,792  13 

19 


By  Sales  No.  1 


Cr^ 

17,792:13 


Dr. 


Sales  for  Account  of  John  Gnndry  &  Co. 


17,792il3 


Cr. 


LEGER  A,  SET  VI, 


Dr. 

Sales  of  Sugar, 

No.  1. 

Cr. 

^^  1862. 

^Oct. 

19 
30 

To  Sundries 

"   Cash                „,««.«) 

• 

3 
3 

18,420 
4,274 

71 

29 

1852. 

Oct. 

ii 

15 

18 

ByBUlsRec. 

a           a 

22,695.00 

2 
2 

t 

16,455100 
6,24000 

22,695 

00 

22,695j00 

Dr. 

Interest. 

Cr. 

^^  1862. 

^  Oct. 

1852. 

Nov. 
Dec. 
1853. 
Jan. 

30 

30 
31 

31 

To  Profit  <k  Loss  (jgain) 

To  Cash 

a       a 

it       (t 

804.52 

4 

704 

79 

1862. 

Oct. 

it 
1852. 

Nov. 

a 
it 

1853. 
Feb. 

19 
22 

T 

15 

it 

28 

By  Sales  No.  1 
"   Adv.  pr.  PhilUs 

704.70 

By  Bills  Rec. 
"   Sales  for  J.  G.&  Co. 
"  Sales  Co.  A        ^n 

"  Profit  dk  Loss  (loss) 

3 
3 

3 
4 
4 

4 

5  70 
699  09 

4 

4 

• 

5 

26 
9 

268 

73 
02 

77 

30'42 
3  97 
182 

2  «  8  3  I 

304 

52 

304 

52 

Dr. 

Profit  i 

cfe  Loss. 

J 

Cr. 

1852. 

1862. 

1 

#     Oct. 

30 

To  Expenses 

2 

1,190 

00 

Oct. 

22 

By  Adv.  pr.  Phillis 

3 

822.52 

^*( 
t^^ 

ii 

"  T.Harvey,  \netgains 

1 

1,3  6  4 

86 

it 

30 

"   Commission 

3 

2,344  38 

'^        it 

a 

i'S.PNixon,h  "     « 

1 

1,3  6  4 

84 

it 

a 

"  Charges 

3 

48  00 

^^--^^ 

tt 
1862. 

Nov. 

a 

"  Interest 

4 

704179 

t  on^ 

3,919 

69 

3,91969 

loo6. 

Feb. 

28 

To  Expenses 

2 

510' 

00 

15 

By  Sales  Co.  A 

4 

6116 

ii 

a 

"   Interest 

4 

268 

31 

1853. 

a 

ti 

"  T.  Harvey,  \  net  gains 

1 

6  89 

17 

Feb. 

28 

«  Mdse. 

2 

83870 

a 

ii 

«  S.P.Nixon,}t  "     <^ 

1 

689 

18 

a 

n 

"  Commission 

3 

927  53 

^^^^ 

■ 

tt 

ti 

*'  Charges 

3 

40  07 

^^^^-^ 

it 

ii 

«  Sales  Co.  B 

5 

89  20 

1,956 

66 

1,956  06 

Dr. 

Morto7i  (k  Godwin. 

Cr. 

t,  11862. 

r  Aug. 

31 

To  Cash 

2 

4,540 

00 

1862. 

Aug. 

2 

By  Adv.  pr.  PhUlis 

2 

1 

1 

4,54000 

j 

Dr. 

Otis  &  Brother. 

Cr. 

l^  1862. 1 

^^ug.  31 

To  Ca8h 

2 

3,540 

00 

1852. 

Aug. 

2 

By  Adv.  pr.  Phillis 

2 

3,540  OC 

:            '                  1         ■ 

t 
1 

Dr. 

Suarez, 

Brother  &  Co. 

Cr. 

/-  1862. 

«^Oet. 

20  To  Bills  Pay.         ' 

3 

6,430 

-M 

77 

1852. 

Oct. 

11 

By  Adv.  pr.  Phillis 

2 

6,43077 

- 

1^* 

4 

169 


b 


Dr. 


LEGER  A,  SET  VI. 

Sales  of  Pork,  Co.  A. 


Cr. 


18S2. 

Nov. 

u 
It 

« 


1 

5 

15 

ti 

30 


To  Amer.  Mut.  Ins.  Co. 
"   Sundries 

u  (t 

«   Profit  &  Loss 

"     Cash     •  M.875i» 


150 

4,659 

5,154 

61 

850 


10,875 


00 
37 
47 
16 
00 


00 


1852. 

Nov. 


6 
30 


By  Bills  Rec. 
"  Cash 


10,875  JW 


5,500 
5,375 


00 
00 


10,875 


00 


Dr. 


Faxon,  Field  &  Co. 


Cr. 


1852. 

i^  Nov. 

1853. 

Jan. 
Feb. 


30 

15 
5 


To  Cash 

"   Bills  Pay. 
"   Sundries 


i3,an.0 


5,000 

4,155 
4,483 


00 

12 
11 


13,638 


23 


. 


1862. 

Nov. 
u 

1853. 

Feb. 

u 


15 

28 


By  Sales  Co.  A 


(( 


« 


«  Sales  Co.  B     „.«^ 
"  Bal.  to  Leger  B^fol. 


3 
4 

4,628 12              1 
4,689  28              1 

5 

2,364 

06 

2 

1,9  5  6 

77 

13,638 

23 

Dr. 


John  Gundry  &  Co. 


Cr. 


I  1852. 

^  x^ec. 


31 


To  Cash 


1,932 


53 


1852. 

Nov. 


15 


By  Sales  for  J.  G.&  Co. 


1,932 


53 


Br. 


Sales  of  Merchandise,  Co.  B. 


Cr. 


B^  1853. 
Jan. 

^  Feb. 

u 


15 

28 


To  Bills  Payable 
"    Sundries  %,mM 

"  Profit  &  Lost  (jj/ain) 


4,155 

5,224 

89 


9,469 


12 

68 

20 


00 


1853. 
Jan. 

Feb. 

(I 


21 
19 
28 


By  Bills  Rec. 

"  T^75 

"  Bal.  to  Leger  Bj/ol. 


4,657 
2,931 

1,8  8  0 


9,469 


25 

50 

2& 

00 


Br. 


Adventure  to  Cincinnati,  Co.  C. 


Cr. 


195$. 

<  Feb. 


To  Sundries 


4,483 


11 


1853. 

Feb. 


28 


By  Bed.  to  Leger  B,  fol. 


4,48  3 


11 


Br. 


Bouglass,  Forest  &  Co. 


Or. 


^^1853. 

^Feb. 


28 


To  Bal.  to  Leger  B,  fol. 


2,3  6  4 


06 


1853. 

Feb. 


28 


By  Sales  Co.  B 


5 1    2,364  06 


160 


THOMAS  HARYEY  &  CO. 

EEGEH  B. 

SET  VI. 


INDEX. 


9^1 


Adventure  to  Canton 
American  Mutual  Ins.  Co.  - 
Adventure  to  Cincinnati^  Co.  0 


2 
2 
3 


H. 


Harvey,  Thomas 
Hughes^  Miller  k  Co. 


1 

4 


B. 

Bills  Receivable     •        -        -        •        -2 
Bills  Payable     .....        2 


Interest 


C.  ;■:  ■"; 

Cash     .......1 

Charges     ..••..        3 
Commission  -•••••    3 


M. 


Merchandise 


2 


*  *T 


D. 

Bouglass;  Forest  &  Co.  • 


•    8 


N. 


Nizoni  Salmon  P. 


B. 

Expenses       •••••«    4 


F. 


Profit  &  Lobs  ••••.•    s 


Faxon,  Field  &  Co. 


-    2 


Q. 


Grant,  James  L.    - 
Gaylord,  Watson  Qt.    - 


1 

4 


Ship  Massachusetts  - 
Sales  of  Merchandise,  Co.  B 
Sales  of  Matting)  No.  2    - 
Sales  of  Tesy  No.  3      . 


-    1 

3 

.    4 

4 


■.i   '  'it  '. 

161 


^/ 


Dr. 


LEGER  B,  SET  YI. 

Thomas  Harvey. 


Cr. 


1853. 

June 

u 


30 


To  Cash  1  3 

"   B(d.{N'etCap.)toNew% 


450 

46,2  8  0 


46,730 


00 

32 


32 


1858. 
Mar. 
June 


1863 
July 


1 

30 


By  Bal.  fr.  Leger  A,  fol 
"   Interest 
"   Profit  &  Lobs 


rr,8».oe 


By  Bal.  ft.  Old  % 


36,82402 
735  06 
9,171  24 

32 
32 


46,730 


46,280 


Dr. 

#/l853. 
June 


Salmon  P.  Nixon. 


Cr. 


it 


30 


To  Cash 
"  BaL{NeLCap.)toNew% 


500 
4  6,2  3  5 


46,735 


00 

26 


26 


1853. 

Mar. 

June 
n 

1863. 
July 


30 

li 


1   By  Bal.  fir.  Leger  A,  fol, 


"   Interest 

"    Profit  &L088 


87,5«4.« 


By  Bal.  fr.  Old  % 


36,829 

735 

9,171 


46,735 


46,235 


02 
00 
24 

26 

26 


James  L.  Grant. 


By  Cash     • 

"   Interest 

"   Profit  &  Loss 


Cr. 


15,800.00 


By  Bal.  fr.  Old  % 


15,000 

;oo 


3( 


00 
00 
4,585  02 

62 

62 


19,885 


19,885 


(;:ij  J'  |> 


Cr. 


1853. 
Mar.  I 

Apr: 
May 

2853. 
July 


31 
30 
31 


To  Bal.  fr.  Leger  A,  fol. 
«  Jas.  L.  Grant 
"  Sundries 
li        li 

i5^3.47 


To  Bal.  fr.  Old  % 


1863. 

2 

9,750 

71 

Mar. 

31 

1 

15,000 

00 

May 

u 

1 

11,144 

51 

June  30 

2 

9,657 

25 
47 
90 

(( 

11 

45,552 

1861 

By  Sundries 

II  a 


it 


tt 


"   Bal  to  New  % 


43,690.57 


14,001i50 

20,492157 

9,19650 

1,861|90 

45,552147 


Dr. 


Ship  Massachusetts. 


Cr. 


1853. 
Mar. 
May 


1 

6 
"    31 
June30 


a 


1853. 
July 


ii 


To  Bal.  fr.  Leger  A,  fol 
"  Adv.  to  Canton 
«  Cash 

"  Interest  83,«m.o4 

"  Profit  (So  Loss  {gain) 

To  Bal.  fr.  Old  % 


26,29185 
2,069  68 
3,80867 
1,481 184 

2,39796 


36,000  00 


1853. 

May 

II 

June 


22,50000 


9 
31 

30 


By  Sundries 

Lash  18,500.00 

Bal.  {Tnv't.)  to  New  % 


(t 


8,500,00 
5,000'00 

22,500'00 


36,000.00 


162 


y"  Dr. 


LEGER  B,  SET  YI. 

Bills  Receivahle. 


2 


Cr. 


1853. 
Mar. 
Apr. 
May 
June 

1853. 
July 


1 
9 

18 
10 


To  Bal.  fr.  Leger  A,  fol. 
"  Sales  Co.  B 
"  Sales  No.  3 
Sales  No.  2 


li 


m^7.38 


To  Bal.  fr.  Old  % 


1 
1 
2 
2 


13,82875 
5,525!00 

93,293:63 
8,400!00 


121,047 


107,218 


38 
63 


1853. 
Mar. 
Apr. 
May 
June 


4 
30 
31 
30 


By  W.  G.  Gaylord 
"    Cash 


it      li 


"  Bal.  to  New  % 


13,828.75 


2,931'50 

6.240  00 

4,657,25 

1 0  7,2 1 8  6  3 


121,047  38 


Dr. 


Merchandise. 


1853. 
Mar. 


To  Bal.  fr.  Leger  A,  fol. 


f^! 


Dr. 


Adventure  to  Canton. 


Cr. 


1853. 

Mar. 

it 

June 

ti 


1 

25 
20 
30 


To  Bal.  fr.  Leger  A,  fol. 
"  Bills  Pay. 
"  Sundries 
"  Cash 


•0,08<.77 


1 
1 

2 
8 


65,656 
1,163 

15,950 
7,344 


90,084 


25 
75 

77 
00 


77 


1853. 
May 


II 


June 

a 


6 

II 

1 
15 


By  Sundries 
"   Ship  Mass. 
"   Sales  No.  3 
"  Sales  No.  2 


90,084.77 


1,682  36 

2,069  6« 

82,349  95 

3,982  78 


90,084  77 


•/r. 


/^Dr. 


Bills  Payable. 


Cr. 


1853. 
Mar. 
May 
June 


31 

II 

30 


To  Cash 

II      II 


"  Bal.toNcw% 


t9.255.90 


14,000 
15,255 

23,000 


52,256 


00 
90 

29 


19 


1853. 

Mar. 

li 


1853. 

July 


1 

25 


By  Bal.  fr.  Leger  A,  fol. 
"  Adv.  to  Canton 

52,236.19 


By  Bal.  fr.  Old  % 


j  51,122  44 
1,13375 


52,25619 


i  23,000  29 

'  I 


^    Dr. 


American  Mutual  Insurance  Co. 


Cr. 


1863. 
Mar. 


To  Bkl.  fr.  Leger  A,  fol. 


1,346 


25 


Dr. 


Faxon,  Field  &  Co. 


Cr. 


1853. 
IMar. 
June 

1863. 
July 


1 
11 


To  Bal.  fr.  Leger  A,  fol. 
"  Adv.  Co.  C 

6,668.13 


To  Bal.  fr.  Old  % 


5 
2 


1,956 
4,711 


6,668 


4,954 


77 
36 


13 


33 


1863. 
Apr. 
June 


9 

3  0 


By  Sales  Co.  B 
"   Bal.  to  New  % 


1,713  80 

4,954.32 


6,668;13 


-ir 


168 


t  ^ 


Dr. 


LEGER  B,  SET  VI. 

Sales  of  Merchandise,  Co.  B. 


Cr. 


1853. 
Mar. 
Apr. 

1 
9 

— 

To  Bal.  fr.  Leger  A,  fol. 
"  Sundries 


&.»1.4S 


1,880 
3,811 


5,691 


25 
20 


45 


1853. 
Apr. 


it 


By  Bills  Rec. 
**   Profit  &  Loss 


»,<»1.4a 


5,525 
160 


5,691 


00 
45 


45 


Dr. 


Adventure  to  Cincinnati,  Co,  C 


Cr. 


1853. 
Mar. 
June 


1 

30 


To  Bal.  fr.  Leger  A,  fol. 
"   Profit  &  Loss  {gain) 


4,483 

228 


LI 

26 


1853. 
June 


11 


By  Faxon,  Field  &  Co. 


4,711 


36 


J   Dr. 


Dovglass,  Forest  &  Co. 


Cr. 


1853. 
June 


30 


To  Bal.  to  New  % 


4,077 


1853. 
8  6  Mar. 
Apr. 
1853. 
July 


1 
9 


By  Bal.  fr.  Leger  A,  fol. 
*'   Sales  Co.  B       ^^^ 


By  Bal.  fr.  Old  %  . 


2,364  06 
1,713  80 


4,077 


86 


J  Dr. 


Charges. 


Cr. 


1853. 

June 
u 


30  To  Cash 

"  Profii  db  Loss  ((/ain) 


ii 


237 

171 


00 

3  6 


1853. 
Apr. 
June 


n 


9 
1 
15 


By  Sales.  Co.  B 
*'  Sales  No.  3 
<<   Sales  No.  2 


107135 

256|00 

4500 


I       408*35 


,/     Dr. 


Commission. 


Cr. 


\ 


1853. 
June 


30 


To  Profit  &  Loss  (gain) 


5,380 


5,360 


93 


93 


1853. 
Apr. 
June 


9 

1 

15 


By  Sales  Co.  B 
"  Sales  No.  3 
"  Sales  No.  2 


ft,MOJI 


27^:5 

;,o64  68 

420  00 


5,360  93 


Dr. 


Profit  &  Loss. 


1853. 
Apr. 

June 

ii 

c 


9 

30 

ii 

u 

il 


To  Sales  Co.  B 
*<  Expenses 
'  <    T.  Harvey  y  |  net  gains 
<<   S.PNixm/i  " 
"  JL.Grantyi'' 


ii 


166 

065 

9,171 

9,171 

4,686 


23,760 


45 
50 

24 
24 
62 


05 


1853. 

June 

ii 

it 
it 
a 
ii 


20 

30 

(( 

(( 
li 
ii 


By  Adv.  to  Canton 
Ship  Mass. 
Adv.  Co.  C 
Charges 
Commission 
Interest 


r 


164 


» 


Dr. 


LEGER  B,  SET  VI. 

Interest. 


•^1853. 
May 
June 


6 
30 


To  Adv.  to  Canton 

"  Sundries  ^^^^ 

"   Profit  &  Loss  {gain) 


Cr. 


By  Cash 
"   Sales  No.  3 
"   Sales  No.  2 
"  Adv.  to  Canton 
"  Ship  Mass. 


Dr. 


1853. 

Mar. 

4 

« 

31 

Watson  G.  Gayhrd. 


To  Bills  Rec. 
"  Cash 


3,«S.OO 


2,931 
1 


50 
50 


1853. 
Apr. 


30 


By  Cash 


t^  Dr. 


Hughes,  Miller  &  Co. 


1853. 
May 


6 


To  Adv.  to  Canton 


i^ 


Dr. 


1853. 

May 

ii 

June 

9 

31 
15 

Saks  of  Matting,  No.  2. 


To  Ship  Mass. 
"  Cash 
"  Sundries 


Dr. 


1853. 
May 
June 


Sales  of  Tea,  No.  3. 


"f . 


To  Ship  Mass. 
"  Sundries 


n,»3.6S 


6,000 
87,293 


1853 

00|j  May 
63 


18 


By  Bills  Rec. 


Dr. 


0 
• 


1863. 
June 


Expenses. 


30 


To  Cash 


665 


50 


1853. 
June  3  0 


5,671.18 


2591 

23  00 

24  22 
4,16721 
1,43184 


Cr. 


2,933  00 


Cr. 


93,293 


63 


Cr. 


By  Profit  &  Loss  (loss) 


165 


666 


50 


INVENTORY-BOOK,  SET  VI. 


Property  remaining  unsold  February  28tli,  1853  : 

Merchandise. 
100  Hhds.  Cuba  Molasses,  10,240  Gals.  @  19  ^ 

Merchandise  J  Co.  B, 

74  Hbds.  Muscovado  Sugar,  88,066  Ibs^  4'^ 

75  Hhds.  N.  O.  Molasses,  7,879  Gals.  @  18  /? 

Our  one-third  of  which  is 

Adv.  to  Cincinnatij  Co.  C, 
Our  one-half  of  luToice  of  February  5th    - 


.  4,183.14 
1,457.61 

$5,640.75 


Property  remaining  unsold  June  30th,  1853 
Ship  Massachusetts  valued  at 


TRIAL  BALANCE,  LEGER  A,  SET  YL     Oct.  SOth,  1852. 

Dr.  v^r. 


L.¥. 

1 

1 
1 
1 
1 

2 

2 

2 

3 

3 

3 

3 

4 

4 


Thomas  Harvey     -  -        -        - 

Salmon  P.  Nixon        -  -         - 

Ship  Massachusetts  -        -    .    * 
Bills  Receivable 

Adventure  to  Canton  -        -        - 

Cash          -         -        "  "        ' 

Bills  Payable         -  - 
Expenses  ---•:■ 

Commission  -        -  -        -        " 

Charges     -         -         -         '  ^    ' 
American  Mutual  Insurance  Co. 
Sales  for  %  of  John  Gundry  &  Co. 
Interest         -        -        -        -        - 
Profit  &  Loss     -        -        -        - 


127,102  90 


127,10i:i06 

i 


TRIAL  BALANCE,  LEGER  A,  SET  VI.    Feb.  2Sth,  1853. 

Dr. 


Cr. 


L.P. 
1 
1 
1 
1 

I 

2 


Thomas  Harvey     - 
Salmon  P.  Nixon 
Shi^  Massachusetts 
Bills  Receivable 
Adventure  to  Canton 
Cash 
Merchandise 


Am'ts  carried  forward 


1 


1 26,291  85 
►13,828i75; 
65,65025' 

9,750|711 
901 


36,234  85 
36,23984 


t  1,106 


116,634 


40:|_72,474<39 

ii    r 


166 


L.F. 
2 

2 
3 
3 
3 
4 
4 
5 
5 
5 
5 


TRIAL  BALANCE  {continued). 

■  Ill        ■■—»■■  ■  ■ 11        11  ^_-      -       ..^.       ■■■■■  ■       ,.      -  _       ■!  ^.  , 

Am'tfi  Bro't  forward 

Bills  Payable 

Expenses  ...... 

Commission  ........ 

Charges    -         -         -         -         .'. 

American  Mutual  Insurance  Co.    ..... 

Interest    -         -         -         -         .. 

Profit  &  Loss        ........ 

Faxon,  Field  &Co.    - 

Sales  of  Merchandise,  Co.  B  ..... 

Adventure  to  Cincinnati,  Co.  C  - 
Douglass,  Forest  &  Co.  -        -   *    - 


116,634 
f      610 


1,346 
268 

1,956 
1,791 
4,483 


46 
00 


25 
31 

77 
05 
11 


126,989j95 


72,474 
51,122 

927 
40 


61 


2,364 


69 
44 

53 
07 


16 


06 


126,989 


95 


TRIAL  BALANCE,  LEGER  B,  SET  VL    March  let,  1853. 

Dr. 


Cr. 


L.F. 
1 

1 
1 
1 

2 
2 
2 
2 
2 
2 
3 
3 
3 


Thomas  Harvey   ■ 
Salmon  P.  Nixon 
Cash    - 


Ship  Massachusetts   - 

Bills  Receivable  .        -        - 

Merchandise     -        -         -        - 

Adventure  to  Canton    - 

Bills  Payable    -         -         -         - 

American  Mutual  Insurance  Co. 

Faxon,  Field  &  Co.   - 

Sales  of  Merchandise,  Co.  B 

Adventure  to  Cincinnati,  Co.  C 

Douglass,  Forest  &  Co. 


9,750  71 
26,29185 
13,82875 

1,94560 
65,656  25 


1,346 


25 


l,956i77 


1,880 
4,483 


127,139 


25 
11 


54 


36,824  02 
36,829  02 


51,122  44 


2,364 


00 


li' 


127,139j&4 


I 


TRIAL  BALANCE,  LEGER  B,  SET  VI.     June  30eA,  1853. 

Dr. 


.^  ^ 


■•-M 


/ 


AUXILIARY  BOOKS 

FOR  SET  VI. 


t  , 


BANK-BOOK. 
CHECK-BOOK. 
BILL-BOOK. 
INVOICE-BOOK. 


SALES-BOOK. 

OUTWARD-INVOICE-BOOK. 
ACCOUNT-SALES-BOOK. 
ACCOUNT-CURRENT-BOOK- 
LETTER-BOOK. 


w 


169 


i 


^^' 


BANK-BOOK  AND  CHECK-BOOK. 


BANK-BOOK. 

This  is  a  small  memorandum  book  given  by  Banks  to 
individuals  who  deposit  funds  with  them.  The  deposits 
made  in  Bank  are  entered  in  it  by  the  receiving  clerk, 
at  the  time  of  deposit ;  and  about  once  a  month  a  clerk 
of  the  Bank  enters  the  amounts  that  have  been  checked 
out,  and  balances  the  book.  This  is  called  writing  up 
and  balancing. 

Notes  and  Drafts  lodged  with  the  Bank  for  collection 
are  noted  inside  the  money  column,  but  not  extended. 
When  collected  they  form  a  deposit  in  Bank,  and  are 
extended  ;  but  if  protested  for  non-payment,  a  stroke  of 
the  pen  is  made  through  the  figures,  and  they  are  not 
extended.  If  the  Note  or  Draft  does  not  fall  due  be- 
fore the  time  of  writing  up  and  balancing,  instead  of  an 
extension  a  new  entry  must  be  made  when  collected. 

No  Bank-Book  is  given  with  Set  VI,  since  the  form 
is  so  simple  as  not  to  require  it. 


CHECK-BOOK. 


This  is  a  printed  book  of  blank  checks,  with  a  broad 
margin,  in  which  is  noted  deposits  made  in  Bank.  When- 
ever it  is  wished  to  draw  out  funds  from  the  Bank,  one 
of  these  blank  checks  is  filled  and  torn  off,  and  a  me- 
morandum of  it  also  made  in  the  margin. 

By  adding  all  sums  deposited,  and  subtracting  all 
sums  withdrawn  or  checked  out,  the  amount  remaining 
in  Bank  is  always  readily  seen,  and  must  agree  with 
the  balance  of  the  Bank-Book  when  that  book  is  writ- 
ten up  and  balanced. 

Notes  and  Drafts  deposited  for  collection  are  entered 
in  this  book  when  they  are  collected.  Some  make  a 
memorandum  of  them  at  the  time  of  deposit,  but  this  is 
unnecessary,  as  the  Bank-Book  is  the  voucher  for  their 
having  been  left  with  the  Bank,  and  they  do  not  form  a 
real  deposit  upon  which  to  draw  until  they  are  collected. 

Houses  doing  business  with  more  than  one  Bank  have 
a  separate  Check-Book  for  each. 

In  Set  VI,  the  Firm  has  dealings  with  the  Phenix 
Bank  and  the  Bank  of  Commerce ;  but  I  have  given  a 
portion  only  of  the  Check-Book  of  one  of  these  Banks, 
this  being  sufficient  to  show  the  form.  It  will  be  a  good 
exercise  for  you  to  fill  up  the  remainder  of  this  book, 
and  also  to  make  out  a  Check-Book  for  the  Bank  of 
Commerce  from  the  history  of  the  business. 


Non.— The  portion  of  thl»  page  occupied  with  the  «pl«»»«<«»  ?^.*^*,?*°k '^f^ 
and  Check-Bo6k  constitutei  properly  a  part  of  the  Check-Book,  being  the  back  or 
blank  side  of  the  checks.  When  the  checks  are  torn  oO,  nothing  remains  in  Uilf 
iook  but  the  inner  marginal  memorandums. 

170 


Phenix 


1862. 
eejv.45r.^(?<.vu<H|  19,C00  00 
^&vcA  gN'o.  i 


OUMU  201^. 

oN'ote  gN*o.  2  coSUcU^ 


Q^uo,.  2d. 
^v*oft,  gN'o.  3 


oN'oteON'o.'f  w^Loted 


S'ejv.  22d. 


Oct.  -fftd. 

<^c!L  gN'o.  Jf, 


^,500 


9,^35 


00 


^,27^29 


JfM01\ 


<,<25;oo 


3,735 


7< 


CHECK-BOOK,  SET  YI. 


Bank, 


JVb.  f. 
Date.  J'Jij<'f2t^,1852. 

,    Favor  of 


No.  2. 
Date.  Q^i^.  2d,  1852. 

Favor  of 


.400  00 


Ab..3. 
Date.    £Pe|v.  22d,1852. 

Favor  of 

@.   SSeeX  ^  ^o„ 


-4^,540 


t^^^^^^^^^^^^^^^^f^^0^^^^^^^^^^^^^t^^^t^^t^^^^i^^^^^^^t^y^i^^^^^>^^i»^l^i^i^*^>^ 


m 


M.  i. 


NewYorh,  SJj^  -IStfv,  1852. 
Pay  to         Sot^^l  dSd^  *§  S8-u»tA^s  or  Bearer, 

«/wv  tTv&iMvaied ,       


^  Dollars, 


^00  Dolls.  ^  cts.         S^Aonia^  atpaivey  q"  i^o.    \ 


]s[o,  2.  Nevo  York,  Qiloii^i^  2d,  1852 

Pai/  to  viD^ito»v  *§  <^^u>liv,  or  Bearer, 

2Foav  SrU^vd  2F;.,c  ?l<Fii.vdi^d  o^vd   ^oM^  -^Dollars. 

Jf>,5Jk^0  Dolh.  wT  c/s.        Unoma4  <^atveu  ^  ^c. 


No.  h. 
Date.  Get.  \\yk,  1852. 

Favor  of 

gN'o.  j^, 


No. 


Pay  to 


New  York,. 


18. 


I?H[IEia2^  ©SiElIS 


..  or  Bearer, 
100  Dollars. 


Dolh.     cts. 


,^0^t0^^^0t0^0*0*^»^t^>^>^*^>^t^^^^t^^ 


j^j~i.r>  n  ■iriif^<~ir~'i'-  — ■  ^  ^-^ 


^,27-^  29 


No.  5. 
Date.   Oct.  i2tL,  1852. 

Favor  of 

»i(?ofri>teV,  £Potv  ^  ^0., 
and  CDcmu/iViW'. 


<,<25 


No.— 


New  York,. 


.18— 


!?HII!i3a21  mi^mjK, 


Pay  to 


_  or  Bearer, 
,  "ioo  Dollars. 


Dolls,     cts. 


New  York, 


00 


5^ 


m 


Pay  to  — or  Bearer, 

.  "ioo  Dollars 

„- J 


/ 


Dolls,     cts. 


^'VVWWW^^^^^^^^*^^^^^^^^^^^^^^^^^*^^' 


171 


BILL-BOOK.  SET  VI. 


Bilk 


i 

When 
BeodTed. 

In  whow  &Tor. 

For  what  receired. 

Where  payable. 

■  t 

1 

Date  of     , 

Motf.       , 

1862. 

1862. 

1 

1 

July 

2 

Bagley  &  Thompson 

Thomas  HarTey 

For  ^  of  T.  Harrey 

Phenix  Bank 

May 

7  : 

2 

«( 

(t 

Wm.  Longfellow 

Salmon  P. 

Nixon 

"         "8.  P.  Nixon 

New  York 

May 

18« 

8 

<( 

n 

Jonas  SaTage  &  Co. 

«< 

(t 

«i         («        «( 

Bank  of  Com. 

Apr. 

27. 

4 

It 

(( 

Ezra  Coe  &  Co. 

u 

It 

(t         ((        «< 

«(            (t 

Mar. 

6  . 

5 

« 

<i 

John  Yanarsdale 

« 

(* 

(<         <<         «( 

New  York 

Apr. 

30. 

6 

Oct. 

15 

J.  FalstaflF  &  Co. 

OurseWet 

Sales  of  Sugar,  No.  1 

ii      ii 

Oct. 

16* 

7 

« 

18 

Lyman  F.  Bache 

(( 

i(                           <4                   t( 

t«      ii 

Oct 

18  i 

8 

Not. 
1863. 

6 

Jeremiah  Brown 

(« 

Sales  of  PorkjCo.  A 

Phenix  Bank 

Not. 
1853. 

^ 

9 

Jan. 

21 

James  Maitland  k  Co. 

(1 

Sales  of  Mdse.,Co.  B. 

Bank  of  Com. 

Jan. 

21 

10 

Feb. 

19 

Watson  G.  Gaylord 

(i 

«t            («        «( 

New  York 

Feb. 

19 

11 

Apr. 

9 

Leonard  Barber  &  Co. 

«< 

«(                         4«                 (t 

<4            H 

Apr. 

9 

12 

May 

18 

Carrigan  &  Allen 

Myers  &  Wolbert 

Sales  of  Tea,  No.  8 

Bank  of  Com. 

May 

18 

13 

(( 

<( 

Brooks  &  Monteith 

tt 

(« 

It          «i        «( 

ti            ii 

May 

18 

14 

(1 

<t 

Burrill  &  Webb 

« 

<( 

(1          ««        11 

Phenix  Bank 

May 

18 

16 

(< 

ii 

J.  Dugan  k  Co. 

«« 

<i 

<(          <i        <( 

ii          ii 

May 

18 

16 

June 

10 

Fithian  &  Morris 

OnrseWes 

■ 

Sales  of  Matting,  No.  2 

«<          *i 

June 

10 

Bilb 


i 

When 
ImumL 

Drawenii 

In  whoee  &Tor. 

On  whom 
drawn. 

For  what  giTen.} 

Where  payable. 

1 

1862. 
July 

9 

OurseWes 

A.  A.  Lawrence  &  Co. 

Drills 

Phenix  Bank 

2 

« 

tt 

tt           *t         tt 

«< 

«i           it 

8 

ti 

tt 

tt           tt        tt 

*i 

«<           it 

4 
6 
6 

ii 
Aug. 

tt 

16 
2 

Atlantic  Ins.  Co. 
New  York  Ins.  Co. 
Amer.  Mutual  Ins.  Co. 

Insurance 

New  York 
tt        tt 

tt        tt 

7 

Oct 

20 

Suarez,  Brother  &  Co. 

Hart  &  Cushiug 

OurseWes 

AdT.  pr.  Phillis 

II        II 

8 

9 

10 
11 

Not. 

1868. 

Jan. 

Feb. 

Mar. 

8 

15 

1 

26 

OurseWes 

(( 
fi 

Caleb  Johnson 

Douglass,  Forest  &  Co. 
Bailey  &  Welsh 
Atlantic  Ins.  Co. 

Md8«. 

MdM.Co.B.*FJ.lCo. 

CoflFee 
Insurance 

Phenix  Bank 

Bank  of  Com. 

<i            ii 

New  York 

Bills  Receivable  and  Bills  Payable  are  usually  bound  in  opposite  ends  of*  the  same 
book,  styled  Bill-Book.  This  book  is  so  simple,  that  the  student  will  see,  by  inspec- 
tion, its  utility ;  and  all  necessary  explanations  are  made  by  the  headings  of  the  differ- 
ent columns.  By  comparing  the  "Amount"  and  "When  paid"  columns  with  the  Leger 
accounts  of  Bills  Receivable  and  Bills  Payable,  they  will  be  found  to  agree  at  all  times, 
if  correct.     The  column,  "  On  whom  drawn,"  in  Bills  Payable,  (in  the  formula  above,) 


172 


BILL-BOOK,  SET  VL 


Receivable. 


1 

When  due.                          | 

When  paid. 

Time  to 
run. 

• 

i 

< 

Xt 

S 

S 

9 

< 
10 

i 

1 

i 

1 

Amount. 

Bemarkfl  and  Endoraementa. 

3  mos. 

1,000  00 

Aug. 

10 

60d's 

20 

4,600  00 

July 

20 

Deposited  in  Phenix  Bank  July  10th. 

4  mos. 

30 

2,225  50 

Aug. 

80 

G  mos. 

8 

645  00 

Sep. 

8 

6  mos. 

2 

1,900  75 

Nov. 

2 

Deposited  in  Bank  of  Commerce  Oct.  1 8  th 

6  mos. 

18 

16,455  00 

Apr. 

18 

Discounted  at  Phenix  Bank  Jan.  10th. 

6  mos. 

21 

6,24000 

Apr. 

21 

Deposited  in  Phenix  Bank  April  13th- 

SOd's 

9 

6,530  42 

Dec. 

9 

Discounted  at  Phenix  Bank  Not.  10th. 

4  mos. 

24 

4,657i25 

May 

24 

26 

r  Dep.  Mar.  1st,  and  protested  Mar.  4th 
\  Paid  with  Int  &  Charges  April  26th. 

lOd's 
(>  mos. 

4 

12 

2,931150 
5,52500 

Apr. 

6  mos. 

21 

14,25625 

Endors'd  to  our  order  byMy ers  &WoIbert. 

6  mos. 

21 

29,434  33 

((                *«                       (* 

6  raos. 

21 

35,620  20 

((                ««                       (( 

C  mos. 

21 

13,982  85 

((                          M                                     (« 

4  mos. 

1 

18 

8,400,00 

1 

1    1 

■ 

Payable. 


Date  of  Note. 

Time  to  run. 

When  due. 

Amount 

When  paid. 

Remarks  and  Endoraementa. 

1852. 

1862. 

July 

9 

4  mos. 

Nov. 
1853. 

9/12 

14,000  00 

Nov. 

12 

tt 

tt 

C  mos. 

Jan. 

9/12 

14,000  00 

Jan. 

12 

tt 

tt 

8  mos. 

Mar. 

912 

14,000  00 

Mar. 

12 

it 

tt 

12  mos. 

July 

9/12 

1,081 125 

t( 

16 

12  mos. 

July 

16/19 

l,926i25 

- 

Aug. 

2 

12  mos. 

Aug. 
1852. 

26 

2,000 

00 

Oct. 

20 

SOd's 

Nov. 
1853. 

19/22 

6,430 

77 

Nov. 

22 

Nov. 

8 

6  mos. 

May 

8/11 

15,256 

90 

May 

11 

1853. 

Jan. 

15 

6  mos. 

July 

15/18 

8,310 

24 

Feb. 

1 

6  mos. 

Aug. 

1/4 

8,548 

80 

Mar. 

25 

6  mos. 

Sep. 

25/'28 

1,133 

75 

may  also  be  inserted  in  Bills  Receivable,  if  desired.  The  column,  "When  due,"  will  be 
found  convenient  for  a  small  business,  as  seen  in  the  latter  form ;  but  where  many 
Notes  are  received  and  issued,  ^e  former  will  be  preferable,  as  by  it  can  be  more 
readily  seen  what  Notes  fall  due  on  a  certain  month  or  day. 

N.  B.  Notee  bHiag  due  on  Sunday  must  b«  paid  on  the  Saturday  preceding. 


173 


INVOICE-BOOK,  SET  VI. 


Messrs,  Thomas  Harvey  ^  Co, 


To  Salmon  P.  Nixon    Dr. 


To  100  Casks  Ginseng,  48.120  lbs.,  gross, 

8,120     "     taie, 

"io^bo     ♦*     net,  0  35* 
New  York,  July  2d,  1862. 


$14,000,00 


Messrs,  Thmnas  Harvey  jf  Co. 


Bdt  of  A,  A.  Lawrence  tf  Co, 


«.  T.  C. 

#1  to500 


600  Bales  Drills,  ea.  40  Pieces,  ea.  30  Yds.  =  (H)0,000  Yds.,  @  If 
Delivered  on  Ship  Massachusetts  free  of  charge. 

Eeceived  in  payment  their  Notes,  @  4,  6,  &  8  mos. 

A.  A.  Lawbsnck  5  Co. 

New  ForAr,  July  9iA,  1862. 


$42,000  00 


Messrs,  Thomas  Harvey  ^  Co, 


Bot  of  Haines,  Hampton  ^  Co, 


fi.  T.  C. 


2,000  Pigs  Lead,  140,000  lbs.,  %  50 

Delivered  on  Ship  Massachusetts  free  of  charge. 

Received  payment. 
New  York,  July  9<A,  1852. 


Haixes,  Hampton  &  Co. 


$7,000 


00 


Invoice  of  Flour,  shipped  hy  John  Gundry  ^  Co,,  pr.  Steamboat  Boston^ 
Robinson  master,  via  Pittsburg,  and  consigned  to  Messrs,  Thomas  Harvey  <}•  Co,y 
Neio  York,  to  be  sold  for  account  of  Shippers.  __== 


500  Bbls.  Flour,  @  $3, 


Drayage,  Cooperage,  Labor,  &c., 
Commission  ou  $1,500,  %  2^^, 


Cincinnati,  September  IZth,  1852, 


42.25 
37.50 


£.  E. 
John  Ound&t  h  Co. 


1,500 


00 


r0  75 


$l,579i75 


An  Invoice  IS  a  statement  in  detail  of  goods  sold,  shipped  abroad,  or  consigned  to 
another  to  be  sold.     When  applied  to  goods  sold,  it  is  frequently  called  a  Bill  or  BiU 

The  Invoice-Book  is  used  for  taking  copies  of  the  Invoices  which  accompany  goods 
purchased  or  received  on  consignment.  Some  houses,  instead  of  copying,  pa%te  their 
Invoices  in  a  blank  Invoice-Book,  prepared  for  the  purpose. 

In  order  to  save  room,  I  have  given  above  only  a  i»vi  of  the  Invoices  which  occur  in 
this  Set  •  but  those  given  are  sufficient  to  show  the  different  methods  of  making  out 
Invoices';  and  you  can  see  by  the  history  the  instances  in  which  other  Invoice|  are 
required,  and,  imagining  the  details,  fill  them  up  for  yourself.    ^  .     v     i     -f 

Invoices  of  goods  to  be  sold  on  commission  may  be  kept  m  a  separate  book,  U 

preferred. 


SALES-BOOK,  SET  VL 

New  York,  October  Y5th,  1852. 


P.B. 

#1  to  300 

P.  D. 
^OltoOOO 

P.  c. 

#30ito500 


TH 


Sold  to  J.  Falstaff  &  Co.,  Note  @  6  mos., 

300  Boxes  Sugar— Sales  of  Sugar,No.  1— ea.  480  lbs.,  @  6«/ 
100  Hhds.       "  —    "  "         **    — ea.  1420  "     "  5^ 

18th 


Sold  to  Lyman  F.  Bache,  Note  @  6  mos., 

200  Boxes  Sugar— Sales  of  Sugar,  No.  1— ea.  480  lbs.,  @  Of 
Nov.  6th   — 


9,000  00 
7,455'00 


Sold  Jeremiah  Brown, 

600  Bbls.  Pork— Sales  of  Pork,  Co.  A—  @  $11 

Took  Note,  @  30  days,  for  $5,580.42 

Dis.  on  Note  for  33  days,  to  make  it  equal  to  Cash 

10th 


Tl 


Sold  H.  S.  Pierson  &  Co.,  Cash, 

600  Bbls.  Flour— Sales  for  %  J.  Gundry  &  Co.— @  $5. 
600     "      Pork— Sales  of  Pork,Co.  A—                 "  10.75 
: 16th 


Sold  James  Maitland  &  Co.,  Cash, 

600  Bbls.  Lard,  100,000  lbs.,      @  5^ 
60  Hhds.  Molasses,  5,120  Gals.,  ♦*  20 
Dec.  6th 


16,455 

6,240 

5,500 
30 


00 

00 

00 
42 


2,500  00 
5,37500 


5,250  00 
1,02400 


7,875 


00 


<S> 


<5> 


^ 
^ 


Sold  Stiles  &  Nesmith,  Cash, 

125  Hhds.  Sugar,  157,500  Its.,  @  5^ 

Jan.  21st,  1853  


Sold  James  Maitland  &  Co.,  Note  @  4  mos., 

25,909  lbs.,  Loaf  Sugar— Sales  of  Mdse.,Co.  B— @  9/ 
29,068   "     Crushed  «♦  —   "  "  "    —  "  8 

Feb.  19th 


I 


2,331 


81 


«.  T.  #  6 


Sold  Watson  G.  Gaylord,  Note  ©  10  d's, 

60  Tierces  Rice— Sales  of  Mdse.,Co.  B— 90,200  lbs.,  @  3'/ 

April  9th 


Sold  Leonard  Barber  &  Co.,  Note  @  c  mos., 

74  Hhds.Mus'do  Sugar— Sales  Md8e.,Co.B-87,943nbs.@4f;^ 

76     "    N.  0.  Molasses,   "        "         "       7,879  Gals.  ♦♦  182 


30th 


Sold  Peter  Parker,  Check, 

100  Hhds.  Cuba  Molasses,  10,240  Gals.,  ©19/ 

^ —  June  10th 


2,32544!  4,657 


6,274 


7,875 


00 


00 


4,067  39 
1,457  61 


Sold  Fithian  &  Morris,  Note  @  4  mos., 

1,000  Rolls  */^  White  Matting— Sales  of  Matting,  No.  2— 
40,000  Yds.,  ©21/ 


25 

2,93l'50 


5,525i00 


1,945;60 


8,400j00 

This  book  is  used  for  recording,  in  detail,  all  sales.  .    .      n  ,     -o    i 

In  houses  doing  a  mixed  business,  the  Sales-Book  and  Commission-Sales-Book  can, 
with  equal  propriety,  be  kept  together  or  separate,  as  convenience  may  dictate.     Ihey 

are  here  blended  in  one.  ••     i         x     •         i 

In  actual  business,  the  sale  is  first  recorded  here,  and  subsequently  the  entry  is  mndc 

from  this  book  to  the  Day-Book. 

175 


,:^^*  jLM.'AlMA'i^ . 


1) 

i 


I'   - 


1      OUTWARD-INYOICE-BOOK,  SET  VL 

Invoice  of  Merchandise,  shipped  hj  Thomas  Harverj  ^  Co.,pr.  Ship  Massachu^^ 
setts,  Captain  Fillmore,  for  Canton,  and  consigned  to  Hughes,  Miller  ^  Co,y  to  b€ 
sold  for  account  and  risk  of  Skippers.  


C.  T.  C. 

#lto500 

4t501to600 


600  Bales  DriUs,  ea.  40  Pieces,  ea.  80  Yds.  «»  600,000  Yds.,  ®  If 

100  Casks  Ginseng,  48,120  lbs.,  gross, 

8,120    ««    tare, 
40,000    "    net,  @  85/ 


2,000  Pigs  Lead,  140,000  lbs.,  @  bf 

Charge%. 
Ins.  on  $72,000,  @  1'^,  and  policy 
Com.  on  $63,000,  @  2*^ 

Jf«p  Yorlc,  JWy  9rA,  1862. 


1,081.26 
1,676.00 


42,000 


00 


E.  E. 
Thomas  Habtit  &  Co. 


14,00000 
7,00000 


2,666 


%  66,666 


25^ 
26 


Invoice  of  Merchandise,  shipped  by  Thomas  Harvey  #  Co.,  pr.  Bark  Phillis, 
Bingham  master,  and  consigned  to  Daniel  Starr  ^  Co.,  Kingston,  Jamaica;  bales 
and  returns  for  account  of  Shippers. 


<0>    D.     1,000  Bbls.  Flour,  @  $4,50 

^^  Inspection  1/,  Lining  Zf  pr.  BbL 

1,000  Bbls.  Com  Meal,  @  $3 

Inspection  1/,  Lining  3/  pr.  BbL 

400  Bags  Com,  (ea.  2  Bushels,)  0  $1.26 


Com.  on  $8,080,  @  2^% 
Porterage  &  Labor 
Ins.  on  $9,000,  for  the  Toyage,  @t% 

Policy 

New  York,  Aug.  2d,  1862. 


4,500.00 
40.00 

8,000.00 
40.00 


202.00 

71.60 

270.00 

1.26 


E.  E. 
Thoxas  Haktst  &  Co. 


Invme  of  Merchandise,  shipped  pr.  D.  Leech  &  Co.'s  line,  via  Pennsylvania, 
and  consigned  to  Faxon,  Field  »  Co.,  Cineinnati,  to  he  sold  for  jomt  account  oj 
Shippers  and  Consignees.  ^ 


[WA] 


2,000  Sacks  CoflFee,  131,620  lbs.,  @  6»/ 

Charges. 

Ins.  on  $9,500,  0  1«^ 

Drayage,  Labor,  Weighing,  Mending  Bags,  &c. 

Com.  on  $8,648.80,  0  2»^ 

B.  E.        New  York,  Feb.  6rt,  1868. 


8,648  80 


142.60 

61.20 

218.72 


417 


42 


$8,966 


22 


Thomas  Habtbt  &  Co. 

In  the  Outward-Invoice-Book,  copies  are  taken  of  Invoices  shipped  abroad,  or  con 
siffned  to  others  to  be  sold  for  your  account. 
^  176 


ACCOUNT-SALES-BOOK,  SET  VI. 

Sales  of  Sugar  {No.  V},for  account  of  Adventure  pr.  Bark  Phillis. 


p.  B. 

#1  to  300 
P.  D. 

#001to600 

P.  C. 

#30ito500 


1862. 
Oct  15th.     Sold  J.  Fallstaflf  &  Co.,  0  6  mos., 

300  Boxes  Sugar,  ea.     480  lbs.,  0  6'^ 

100  Hhds.     ««        "    1,420    '*      "  5' 

Oct.  18th.     Sold  Lyman  F.  Bache,  0  6  mos., 

200  Boxes  Sugar,  ea.  480  lbs.,  0  C-/* 


Charges. 

Duties  paid  Oct.  11th 
Int.  on  $4,274.29  for  8  days 
Cooperage,  Stor.  &  Lab. 
Com.  on  $22,695,  0  2=% 

E.  E. 
New  York,  Oct.  19fA,  1852. 


9.000.00 
7,455.00 


4,274.29 

6.70 

55.50 

567.38 


Net  Proceeds  due  June  8th  /53 
Thomas  Hakvkt  k  Co. 


Account-Sales  of  Fhur,  received,  pr.  D.  Leech  rf*  Co.'s  line,  from  Cincinnati,  for 
account  and  risk  of  J.  Gundry  ^  Co. 


1862. 
Nov. 


10 


By  II.  S.  Pierson  &  Co., 

■.        600  Bbls.  Flour,  0  $6 

* 

Charges. 

To  Freight  &  Drayage  440.75 

"  Int.  on  $440.75,  from  Sept.  22d  3.97 

"  Stor.,  Lab.,  Cooperage,  &c.  50.25 

«  Com.  on  $2,500,  0  2^%  62.5(0 

E.  E.        Net  Proceeds  due  Not.  12th 

New  York,  Nov.  Ibth,  1862. 

Thomas  Habtet  &  Co. 


2,500  00 


567  4 


$1,932  5S 


Wlien  goods  received  on  commission  are  sold,  the  agent  makes  out,  for  the  inspec- 
tion of  the  consignor,  a  detailed  account  of  the  sales  of  said  goods,  together  with  such 
charges  as  have  been  made  on  account  of  the  same.  In  making  out  an  Account-Sales, 
the  mode  of  procedure  is,  to  turn  to  the  proper  account  in  the  Leger,  and  from  thence 
refer  to  the  necessary  details,  as  found  in  the  books  of  original  entry.  For  the  details 
of  the  sale,  reference  must  be  had  to  the  Sales-Book ;  the  charges,  commission,  kc. 
Will  be  found  in  the  Day-Book. 

A  variety  of  forms  are  here  given,  of  which  the  first  and  last  are  the  most  common 
iu  business.     Thinking  it  unnecessary  to  occupy  space  with  them,  I  hare  omitte-l 

X  ITT 


r 


ACCOUNT-SALES-BOOK,  SET  VL 

Faxon,  Field  ^  Co.  and  Thomas  Harvey  i  Co,, 
2>;..  In  Account-Sales  mtk  Thomas  Harvey  ^  Co.     Or. 


1852. 

Not. 
tt 

n 
(I 
tt 
tt 

tt 
tt 

tt 


1 

6 
(( 

15 

II 

«{ 

tt 
t* 

tt 


To  Ina.  on  |10,000,  0  V^ 

♦*  Freight 

««  Dray  age 

"  Int.  on  Charges  to  date 

"  Stor.,  Lab.,  Cooperage,  &c. 

"  Ins.  vs.  Fire,  on  $10,000, 

**  Com.  on  $10,875,  @  2«% 
"  Faxon,  Field  &  Co.'s  J  Net 

Proceeds,  due  10th  inst. 
"  Thos.  Harvey  &  Co.'s  J  Net 

Proceeds,  due  10th  inst 


6    By  J.  Brown, 

TH  500  Bbls.  Pork,  @  $11 

*«  H.  S.  Pier  son  &  Co., 
TH  500Bbls.Pork,@$10.76 


E.  E.        New  York,  Nov.  15<A,  1852. 


Thomas  Hartkt  &  Co. 


Sales  of  Merchandise,  for  joint  account  of  Faxon,  Fields'  Co.,  Douglass,  Forest 
^  Co.,  and  Ourselves.  


1853. 
Jan. 


21 


Feb. 


19 


Sold  James  Maitland  &  Co.,  @  4  mos., 
<^  25,909  lbs.  Loaf  Sugar,  @  9  / 

<i>  29,068  "  Crushed  '*        "  8 

Sold  Watson  Q.  Gaylord,  @  10  days,  * 

<J>  50  Tierces  Rice,  90,200  lbs.,  @  3'/ 

Charges, 
Ins.  vs.  Fire  on  $6,500,  (J  Am't  Ins.,)  @  \*% 
Cooperage,  Weigh.,  &  Lab. 
Com.  &  Guar,  on  $7,588.75,  @  b% 


2,331.81 
2,325.4-1 


97.50 

19.62 

379.44 


Faxon,  Field  &  Co.'s        I  net  proceeds 
Douglass,  Forest  &  Co.'s  J 
Thomas  Harvey  &  Co.'s    \ 

E.  E.        New  York,  Feb.  28<A,  1863. 


It 
<* 


*« 


Net  Proceeds,  due  Apr.  27th 

2,864.06 
2,864.06 
2,364.07 


Thomas  Habysy  &  Co. 


several  of  the  Acconnt-Sales  rendered  in  Set  VII,  and  you  can  test  your  knowledge 

obtained  of  the  omes  given  by  making  out  those  omitted.  ^  a  ,  „ 

The  object  of  the  Account-Sales-Book  is  to  preserve  a  copy  of  the  Account-Sales 

rendered  to  consignors. 

178  ' 


ACCOUNT-CUREENT-BOOK,  SET  VL 

Account-Current  of  Adventure  pr.  Bark  Phillis,  with  Interest  to  June  Sth,  1853. 


Date. 


1852. 
A.ug. 


4( 


1852. 
Oct. 


6 

11 


12 
tt 


* 


19 


Deacriptioii. 


Dr. 


To  Invoice  of  Flour,  Com  Meal,  and  Com, 

Shipped  to  Kingston,  Ja.,  as  pr.  O.-I.-B. 
«*  Ins.  in  American  Mutual  Ins.  Co.,  on  ^6,000,  @  V% 
*<  Bal.  due  Suarez,  Brother  &  Co.,  Havana,  as  pr.  their 

Account-Current 

Int.  on  ^6,430.77,  from  Nov.  22d,  the  date  when 

their  Draft  on  us  falls  due 
"  Balance  of  Charter  money  1,000.00 

<•  Demurrage,  5  days,  @  $25  '  125.00 


Time. 


10  m.  6  d's 
8  "  3 


t* 


Total  Interest 
Net  Oauu,  due  June  8  /58 


Cr. 


By  Net  Proceeds  of  Sales  of  Sugars,  due,  pr.  average, 
June  8  /53 


6  «« 17  " 

7  "  27  " 


1 


B.  E.        Xew  Tori,  Oct.  22d,  1852. 


Interest. 


4.39  86 
365 


211jl4 
69909 


Awowt 


I 
I 

8,624'75 
90  UO 

I 

6,430  77 


1,125  00 
699  09 


SSI 


17,792 


St 


13 


17,792  IS 


Adventure  to  Canton  in  Account-Current  with  TJwmas  Harvey  ^  Co, 

Interest  calculated  to  Feb.  23d,  1854. 


Date. 


1852. 
July 

1853. 
Mar. 

June 


?.858. 
May 


« 


June 


9 
25 

18 


6 


tt 


1 
16 


DescriptioB. 


Dr. 


To  Invoice  of  Cargo,  as  pr.  0.-I.-B.,  due  Nov.  12th 

"  Our  Note  @  6  raos.,  to  the  Atlantic  Ins.  Co.,  for  Ins. 

on  Cargo  homeward 
"  Set  of  Exchange,  @  90  days*  sight,  on  Baring  Bro- 
thers &  Co.,  London,  Bo't  pr.  Check,  and  remitted 
to  cover  Hughes,  Miller  &  Co.'s  Drafts  from  Can- 
ton, due  in  London,  Oct.  3d. 
Am't  £1,530,  @  8^  Prem. 

Debit  Bal.  of  Interest 
Net  Gains,  due  Feb.  23  /54 


Time. 


15  m.ll  d's 
4  "25  " 


1,598.24 
84.12 


•       Cr. 

By  Bal.  in  Hughes,  ^filler  &  Co.'s  hands. 
Due  Jan.  1  /53 
5^0  Dis.,  to  convert  to  Canton  funds 

"  Port  Charges,  Piloting,  Repairs,  Sea  Stores,  &c. ,  for 
Ship  Massachusetts,  due  Jan.  1  /53  1,966.20 

6%  Dis.,  to  convert  to  Canton  funds  103.48 

"  Sales  of  Tea  No.  3,  due  Dec.  14  /53 
"  Sales  ef  Matting  No.  2,  due  Feb.  23  /54 

Debit  Bal  of  IntereH 


8  "    5  ** 


S.S. 


New  York^  Sunt  20<A,  1853. 

179 


13  m.22  d's 


13  "22  " 
2  "    9  ** 


Intereit 


5,044 


27 


59 


40 


299  88 


6,371 


87 


AatonnL 


65,656 


1,133 


115 


142 
947 


5,871 


52 


12 
02 

SI 


7,344 
4,167 

1I.7SS 


90,084 


l=. 


00 
21 


4  i 


1,682 


,069 


82,349  95 


3,982 


90,084 


36 


68 


'8 


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LETTER-BOOK,  SET  VI. 


^  r »     ^    \  ^  -^^"^  ^^'•^'>  September  22nd,  1852. 

Messrs,  John  Gundry  ^  Co,, 

Cincinnati: 

t.  n  >  V  *:aa  t>vt  t.,  .  Gentlemen,— We  have  this  day  received,  pr.  D.  Leech 
«  Lo.  8  line,  500  Bbls.  Flonr,  m  good  order,  consigned  to  us  to  be  sold  for  your  ^  and 
nsk,  as  pr.  your  Invoice  of  the  13th  inst. 

As  prices  are  rising,  we  think  it  advisable  not  to  push  it  upon  the  market  at  pre- 
sent, but  shall  endeavor  to  seize  the  most  favorable  opportunity  for  effecting  sales  to 
advantage. 

Very  respectfully, 
•  Your  ob't  servants, 

•*  '  '  Thomas  Harvey  &  Co. 


Gentlemen,  New  York,  February  ^th,  l^^Z, 

.  u  ij  ^^^  reply  to  our  proposition  to  unite  in  a  Company  speculation  of  Mdse., 
to  be  sold  at  Cincinnati,  came  to  hand  on  the  1st  inst.,  and  in  accordance  therewith, 
we  have  this  day  shipped  2,000  Sacks  Coffee,  as  pr.  Invoice  enclosed,  and  consicnied 
them  to  you  to  be  sold  for  your  and  our  %,  jointly.  One-half  of  the  Invoice  we  have 
charged  to  your  %,  m  accordance  with  the  terms  of  our  agreement.— Am't  $4  483  11 
A  portion  of  the  Sugars  consigned  to  us  for  joint  %  of  yourselves,  Douglass',  Forest 
&  to.,  and  ourselves,  have  been  advantageously  sold,  and  there  is  prospect  of  another 
sale  soon* 

Hoping  this  new  adventure  may  prove  for  our  mutual  benefit, 

We  remain,  gentlemen, 
-^  _  ^  Very  respectfully,  yours, 

Messrs,  Faxon,  Field  ^  Co.,  Thomas  Harvey  &  Co. 

Cincinnati, 


This  book  is  used  for  taking  copies  of  all  business  letters  of  importance,  written  to 
others  Letters  received  are  usually  filed  away.  A  business  letter  should  be  written 
m  brief  terms  and  yet  explicitly.  To  be  well  skilled  in  mercantile  correspondence  is 
no  small  acquirement.  ^     y^^^y^^  « 


181 


i  ! 


Ml.^-  £> 


i 


ADDITIONAL   AUXILIARIES. 

In  addition  to  the  auxiliary  books  already  given,  there  are  several  others  of  less  import- 
ance, but  still  convenient  in  some  branches  of  business ;  among  which  are  the  following— 

Order-Book,  for  taking  copies  of  all  orders  received  for  merchandise. 

Memorandum-Book,   for  noting  down  mercantile   atTairs   of  importance,  that  have 
occurred  or  are  likely  to  occur. 

Expense-Book,  for  keeping  an  account  in  detail  of  those  smaller  expenses  which  are 
constantly  occurring  about  an  establishment. 
.  Postage-Book,  for  keeping  an  account  of  postages  paid. 

TiME-BooK,  for  keeping  the  time  of  hands  employed.         See  Form  below. 


FORM  OF  TIME-BOOK. 


Ann  Robins 
Mary  J.  Linn 
Anne  Bowen 
Bet.S.Collins 
Susan  Holt 
Phebe  Martin 


Good  h'd. 

Sick. 
Good  h'd. 

Slow 


Manufacturers  generally  make  use  of  this  book. 

When  hands  are  employed  by  the  month,  the  columns  for  days  may  be  increased  in 
number  to  twenty-six,  the  number  of  working  days  in  a  month. 

182 


LEGER  ACCOUNTS. 

{Continued  from  Page  120) 


Sales  Accounts^  or  Consigfiment  Accounts.  ' 

These  accounts  show  the  charges  on  goods  consigned  to  you  to  be  sold  for  others, 
and  the  total  sales  or  proceeds  of  the  same. 

The  debtor  exhibits  all  charges  against  them,  the  creditor  all  sales  of  goods  con 
signed,  and  the  difference  the  net  proceeds  due  the  consignors. 

An  account  of  this  kind  is  closed  by  a  Day-Book  entry,  debiting  it  and  crediting 
the  consignor  with  the  amount  of  net  proceeds.  Or  if  payment  be  made  immediately, 
the  account  which  furnishes  the  means  of  payment  may  be  credited  instead  of  the 
consignor. 

Merchandise  in  Co.^  and  other  Co.  Speculating  Accounts. 

These  accounts  are  kept  to  ascertain  what  you  make  or  lose  in  each  Co.  Speculation 
of  which  you  have  the  management ;  also  the  amount  of  net  proceeds  due  each  indi- 
vidual of  the  Co. 

The  debit  side  contains  all  that  the  Co.  costs  you,  viz. :  the  amount  of  your  invest- 
ment, the  charges  and  expenses  paid  by  you,  your  commission  for  selling,  and  the 
amount  of  net  proceeds  due  the  other  individuals  of  the  Co. 

The  credit  side  contains  all  that  the  Co.  produces  you,  viz. :  the  total  proceeds  of 
Co.  goods  sold,  and,  at  closing,  your  portion  of  the  balance  unsold,  if  any. 

The  difference  will  be  your  gain  or  loss  on  the  Co.,  which  is  usually  carried  to  the 
Profit  &  Loss  account  by  a  Day-Book  entry,  although  it  may  be  transferred  upon  the 
Leger. 

Adventure^  or  Shipment  Accounts. 

The  debit  side  of  an  account  of  this  kind  shows  the  cost  of  goods  consigned  by  you 
to  another,  to  be  sold  for  you. 

The  credit  side  shows  the  net  proceeds  of  sales  as  rendered  by  the  party  abroad,  or 
the  net  proceeds  of  sales,  by  you,  of  goods  received  in  return  for  those  sent  abroad. 

The  difference  will  be  a  gain  or  loss,  which  is  carried  to  the  Profit  k  Loss  account, 
usually  by  a  Day-Book  entry. 

There  are  frequently  other  items  of  debit  and  credit,  especially  in  foreign  adven- 
tures, but  the  general  rule  of  debiting  what  costs  you  value  and  crediting  what  producer 
you  value,  will  enable  you  always  to  make  the  correct  entries. 

Adventure  in  Co.,  or  Shipment  in  Co. 

The  debit  side  is  to  show  what  the  adventure  costs  you,  or  your  share  of  the  Invoice 
of  goods  consigned ;  and  the  credit  side  the  amount  it  produces  you,  or  your  share  of 
the  net  proceeds  of  sales,  as  rendered  by  the  party  abroad. 

The  difference  is  always  a  gain  or  loss,  and  is  closed  into  Profit  &  Loss,  usually  by 
a  Day-Book  entry.  If  all  the  Ac't-Sales  have  not  been  received  at  the  time  of  closing, 
the  account  may  be  credited  "By  Balance,"  for  the  amount  remaining  unsold. 

183 


ll  ^'t_  _  .^_.  Kj?^ 


QUESTIONS  FOR  REVIEW,   SET  VI. 

What  kind  of  business  is  represented  in  Set  VI  ? 

How  many  years*  business,  and  with  how  many  partners  for  each  year  ? 

Explain  the  object  and  treatment  of  a  Cash-Book,  as  used  with  Sets  I  to  V  inclusive. 

What  other  and  still  more  important  oflSce  has  it,  as  used  with  Set  VI  ? 

How  often  should  it  be  balanced  ? 

In  making  out  account-sales  and  account-currents,  and  in  settling  accounts  with  indiNdduals,  whaf 
must  be  done  with  the  Cash-Book  ? 

Why  are  the  accounts  of  Ship  Massachusetts  and  Adventure  to  Canton  left  open  in  closing  Leger  A? 

Explain  how  to  transfer  accounts  from  one  Leger  to  another. 

What  test  of  the  new  Leger  should  be  taken  immediately  after  opening  all  the  accounts  in  it  ? 

In  this  Set  what  are  the  proper  entries  to  be  made  by  the  firm,  in  both  Day-Book  and  Cash> 
Book,  for  each  of  the  following  transactions — and  why  ?  » 

1st,  Shipment  of  a  cargo  to  Canton,  pr.  Ship  Massachusetts,  part  of  which  was  bought  on 
their  notes,  part  for  cash,  and  part  furnished  from  store;  their  note  being  also  given  for 
insurance,  and  they  charging  a  commission  for  doing  the  business. — ^2d,  Giving  their  note  to 
an  Insurance  Co.  for  marine  insurance  on  open  policy. — 3d,  Purchase  of  a  cargo  for  cash,  and 
shipment  of  same  pr.  Bark  Phillis,  to  the  West  Indies,  to  be  sold  for  their  account ;  insurance 
being  effected  on  open  policy,  and  a  charge  being  made  for  drayage,  labor  and  commission. — 
4th,  Receipt  of  flour'  on  consignment,  to  be  sold  for  account  of  another  person,  and  payment 
of  freight  thereon  in  cash ;  the  drayage  being  performed  by  their  drays. — 5th,  Insurance,  on 
open  policy,  upon  homeward  cargo  of  Bark  Phillis  from  the  West  Indies. — 6th,  Receipt  of 
statements  in  detail  of  proceeds  and  expenditures  on  account  of  Adventure  pr.  Bark  Phillis,  by 
which  it  appears  there  is  a  balance  owing  by  the  firm  to  the  commission  merchants  at  Havana. — 
7th,  Payment  of  duties  on  invoice  of  sugar  received  pr.  Bark  Phillis. — 8th,  Payment  of 
charter  money  and  demurrage  on  voyage  of  Bark  Phillis. — ^9th,  Sale  of  sugar  received  pr. 
Phillis,  for  another  person's  note. — 10th,  Closure  of  the  Sales-account  of  sugar  received  pr. 
Bark  Phillis,  debiting  it  with  the  proper  charges,  and  transferring  the  net  proceeds  to  the  Ad- 
venture account. — 11th,  Debit  excess  of  interest  on  the  Adventure  account,  and  net  gains  as 
shown  by  the  account-current. — 12th,  Effecting  insurance  on  open  policy  on  pork  to  be  sold  for 
joint  account  of  firm  and  another  person. — 13th,  Receipt  of  pork  from  a  person  abroad,  fur- 
nished by  that  person  to  be  sold  on  his  and  their  joint  account,  and  payment  of  freight  on  same 
in  cash— drayage  done  by  their  drays. — 14th,  Sale,  for  a  person's  note,  of  pork  received  to  be 
sold  on  joint  account. — 15th,  Sale,  for  cash,  of  flour  received  to  be  sold  for  account  of  another 
person. — 16th,  Closure  of  the  Sales  account  of  flour  sold  for  another  person,  and  transfer  of 
the  net  proceeds  to  his  account. — 17th,  Debiting  the  Sales  account  of  pork  sold  on  joint  account 
with  the  proper  charges,  and  transfer  of  a  share  of  the  net  proceeds  to  account  of  the  person 
interested  with  the  firm  in  the  company  speculation.— 18th,  Entry  of  gains  accruing  on  the 
joint  pork  speculation. — 19th,  Shipment  of  coffee  to  another  person,  to  be  sold  by  him  on  his 
and  their  joint  account,  with  insurance  on  open  policy,  charges  and  commission  thereon. — 20th, 
Protest  of  another  person's  note  at  bank. — ^21st,  Payment  by  another  of  his  note  which  has 
been  protested,  with  interest.— 22d,  Receipt  of  statements  of  voyage  to  Canton,,  showing  a 
balance  against  the  commission  merchants  there,  5  %  discount  being  required  to  convert  United 
States  currency  into  Canton  funds. — ^23d,  Receipt  (k  statements  showing  that  a  portion  of  the 
proceeds  of  Adventure  to  Canton  were  appropriated  to  the  payment  of  expenses  of  Ship  Massa- 
chusetts at  Canton. — 24th,  Closure  of  Sales  of  Tea,  No.  3. — ^25th,  Receipt  of  an  account-sales 
for  a  joint  adventure  abroad. — ^26th,  Closure  of  Sales  of  Matting,  No.  2. — ^27th,  Purchase  for 
cash  of  a  set  of  exchange,  and  remittance  of  same  to  cover  drafts  from  Canton  on  account  of 
the  voyage. — ^28th,  Closure  of  Adventure  to  Canton,  by  entry  of  debit  balance  of  interest,  and 
the  net  gains. 

Describe  the  form  and  use  of  the  Bank-Book ; — Check-Book ; — ^Bill-Book ; — Invoice-Book ; — • 
Sales-Book ;-— Outward-Invoice-Book ; — Ac't-Sales-Book ; — ^Ac't-Current-Book ; — Letter-Book. 
What  other  Auxiliaries  are  sometimes  used,  and  for  what  ? 
'Whixi  do  Sales  accounts  or  Consignment  accounts  show  ? 

What  does  the  debtor  exhibit? — ^What  the  creditor? — ^What  the  difference? — How  closed? 
For  what  are  Merchandise  in  Co.  and  other  Co.  Speculating  accounts  kept  ? 
What  does  the  debit  side  contain  ? — What  the  credit? — What  will  the  difference  be  and  how  closed? 
What  does  the  debit  side  of  Adventure  or  Shipment  accounts  show  ? 
What  does  the  credit  side  show  ? — What  will  the  dijference  be  and  how  closed  ? 
What  does  the  debit  side  of  an  Adventure  in  Co.  or  Shipment  in  Co.  show  ? 
What  does  the  credit  side  show  ? — ^What  is  the  difference  and  how  closed  ? 

184 


SET    OF    STEAMBOAT   BOOKS. 


This  set  of  books  is  adapted  to  the  western  river  business,  and  will  be  found  particularly 
serviceable  to  clerks  on  board  western  boats,  but  may  also  be  applied  to  other  boatincr 
operations.  ° 

The  books  given  are  a  Freight-Book,  Passage-Book,  Cash-Book,  Leger,  and  Crews' 
Leger,  which  are  all  described  under  their  several  heads.  There  are,  besides,  several 
smaller  books,  used  for  taking  memorandums ;  as,  the  Deck-Passage-Book,  for  entering 
sums  received  from  deck  pas^engers  ;  the  Fuel-Book,  which  contains  printed  blank 
receipts,  to  be  filled  up,  when  fuel  is  purchased,  and  signed  by  the  person  to  whom  pay- 
ment is  made  ;  and  a  memorandum  book  for  taking  an  account  of  goods  when  received 
on  board  or  delivered,  from  which  the  record  is  made  in  the  Freight-Book.  A  Bill-Book 
is  sometimes  kept,  although  it  is  generally  unnecessary,  on  account  of  the  small  number  of 
notes  taken,  the  business  being  principally  cash. 


INSTRUCTIONS  FOR  THE  STUDENT. 

In  order  the  more  readily  to  comprehend  these  books,  it  will  be  well  to  imagine  your 
self  on  board  the  Steamboat  Sultana,  acting  in  the  capacity  of  clerk. 

After  ruling,  according  to  the  forms  given,  enough  paper  for  the  several  books,  enter  in 
the  Cash-Book  the  amount  of  cash  advanced  by  Simonds  &  Morrison,  the  owners  of  th^ 
,  boat,  for  its  use.  Next  set  down  in  the  Crews'  Leger  the  name  of  each  of  the  hands,  and 
the  agreement  made  with  him :  after  which,  record  in  the  Freight-Book  all  the  goods 
taken  on  board  at  Cincinnati.  Then  enter  in  the  Journal  the  note  given  for  charges  on 
Bill  Lading  No.  1 ;  and  m  the  C.-B.  the  cash  paid  on  B.  L.  No.  2,  and  the  cash  received 
on  B.  L.  No.  3 :  also  enter  in  the  C.-B.  the  sums  paid  for  groceries,  marketino-,  and 
wharfage.  Next  record  in  the  Passage-Book  the  passengers  from  Cincinnati ;  after°which 
majce  the  entry,  in  the  C.-B.,  of  cash  received  for  freight  on  goods  landed  at  Louisville, 
and  record  in  the  Freight-Book  the  goods  taken  on  board  at  that  place.  Then  enter  the 
tollowmg  Items  m  the  order  mentioned,  putting  them  in  the  Cash,  Freight,  and  Passage 
books  alternately,  as  indicated  by  the  nature  of  the  entries,  viz. :  wharfage  and  canal 
tollage  paid  at  Louisville ;  passengers  from  Louisville ;  Do.  from  Smithland ;  wharfa<rt 
paid  at  Cairo ;  cash  received  for  freight  on  goods  landed  at  Memphis ;  goods  taken  on 
board  at  Do.;  passengers  from  Do.  ;  marketing  and  wharfage  at  Do.  ;  passengers  from 
>  iCiisburg ;  cash  for  freight  on  goods  landed  at  Natches  ;  passengers  from  and  wharfage  ai 
Do.  Now  foot  up  the  Passage-Book,  and  enter  on  the  C.-B.  the  total  amount  received 
lor  fare.  Next  in  order  comes  the  amount  paid  for  fuel— marketing  at  New  Orleans- 
cash  received  for  freight  on  the  different  bills— freight  paid  Brig  Adelaide  on  goods  re- 
shipped— and  lastly  the  wages  paid  the  hands,  which  are  to  be  entered  both  in  the  C  -B 
and  Crews'  Leger. 

You  may  now  close  up  the  C.-B.  after  the  manner  described  under  that  head,  and  iour- 
nahze  it ;  then  post  the  Journal. 

Proceed  in  the  same  manner  with  the  next  trip  ;  and,  having  completed  it.  close  up  lU 
Leger,  and  make  a  Balance  Sheet. 

Y  185 


■jJT 


'J^  .■■-'«-■ 


STEAMBOAT  SULTANA'S 

Steamboat  Sultana's  Trip  No.  I,  from 


n  u> 

1 

Shipper. 

Embarkation. 

Consignee. 

Destination. 

No.  of 
Ladii 

1 

Mark. 

Joseph  S.  Smith           < 

Cincinnati         < 

0.  A.  Ogden               1 

S,  Orleans 

1  ( 

(C                        ' 

rownsend&Williamson 

VIemphis 

2 

Q 

John  Farlan 

"              James  Morris 

N.  York 

3 

A) 

H.  Jennings 

C.           > 

J.  Moore  &  Co. 

N.  Orleans 

4 

« 

it 

cc 

(( 

« 

(( 

cc 

'  Anson  Avery 

J.  C.  Buckles 

Louisville 

5 

s 

(C 

p.  Arbuckle  &  Co. 

« 

Pease  &  Co 

N.  Orleans 

6 

u 

B 

CC 

Fellows  &  Co. 

Louisville 

• 

E.  C.  Stockton 

Natches 

7 

• 

2 

(C 

Armour  Lake  &  Co. 

Memphis 

Pervis  &  Wood 

N.  Orleans 

8 

F 

'lliis  book  is  used  for  recording  all  goods  received  on  shipment.  The  headings  of  the 
different  columns  will  show  the  manner  of  entry. 

It  frequently  happens  that  the  boat  pays  previous  charges  on  goods  for  freight,  storage, 
&c.,  or  that  she  pays  freight  on  goods  reshipped  by  her.  Sums  so  paid  are  entered  in  the 
"  Freight  and  Charges  paid"  column,  at  the  time  of  payment.  The  amount  paid  (or  pre- 
niotis  cbargefj,  5»s  shown  by  this  column,  is  added  to  the  boat's  charge  i  for  freight  as  shown 

186 


^     FEEIGHT-BOOK. 

Cincinnati  to  New  Orleans^  June  !«/,  1853. 


Description  of  Freight. 


200  Bbls.  Whiskey 
500    "     Flour 


700  Bbls.  Pork 
300  Firkins  Butter 


Weight. 


Rate. 


700  Bbls.  Flour 
900    "     Pork 


10  Bbls.  Eggs 
20    "     Apples 
75    "     Potatoes 


45  Bbls.  Flour 
50  Boxes  Cheese 


40  Boxes  Candles 
35     «     Soap 


50  Pieces  Baffoins: 
o\)  Lous  Rope 


250  Bales  Cotton 


44 
30 


44 
25 


2,500 


1,600 
2,100 


75 
1,00 


30 
30 
30 


15 
12i 


Amount. 


88 


150  00 


238 


00 


Freight 

and 
charges 

paid. 


75 


308 
75 


383 


25 
25 


10 
10 


525 
900 


1,425 


3 

6 

22 


31 


00 


00 
00 


00 


00 

oo: 


00 


25 


00 


00 
00 
50 


50 


6 
3 


75 
13 


9  88 


1,00 


4 
5 


00 
25 

25 


500 
500 


700 


00 


00 


Freight  and 

charges 

received. 


313 


10 


250  00 


00 


408 


00 


00 


1,425  00 


Remarks. 


Gave  note  for  charges 
on  this  bill  $75 


31 


800,00 


•■    * 


10 


250 


50 


Shipper  paid  freight 
to  New  York. 

Shipped  on  Brig  Ade- 
laide atN.  Orleans, 
and  p'd  her  fireighu 
$700. 


88 


25 


00 


00 


2,456,63 


by  the  "Amount"  column,  and  their  sum  is  extended  into  the  "Freight  and  Charges 
received  column;  which  gives  the  total  amount  to  be  received.  This  may  be  done  at 
any  time  when  convenient  during  the  trip. 

When  the  trip  is  posted,  the  debit  side  of  Freight  account  in  the  Leger  should  a^ee 
I>i!  .u  .r/'?'?^^  ^""^  Charges  paid"  column,  and  the  credit  side  of  the  same  accoual 
With  the  "  Freight  and  Charges  received"  column. 

187 


% 

-i 


I 


'ism 


)   r 


STEAMBOAT  SULTANA'S 

Steamboat  Sultana's  Trip  No.  2,  from 


Shipper. 


T.  Saunders 


0.  A.  OgJen 


Pervis  &  Wood 


J.  Newgate  &  Co. 
a 


J.  Mclntire 


P.  W.  Morrison 


A.  H.  Hawley 


J.  T.  Lanphier 


Embarkation. 


N.  Orleans 
u 

u 

u 


cc 


cc 


it 
cc 
cc 
cc 


cc 

cc 


cc 
cc 


Vicksburg 


Memphis 

44 


Consignee. 


L.  &  G.  Farwell  &  Co. 
<c 


Pratt  &  Co. 


41 
«C 


W.  B.  Morris  &  Co. 


Samuel  Ewing 


Destination. 


St.  Louis 

44 
CC 


CC 

cc 
cc 


Stacker,  Wood  &  Co. 

(4 


O.  B.  Batewell 

(4 


A.  H.  Hawley 
(on  board.) 


Joseph  Charles  &  Co. 

(4 


Louisville 


Memphis 

44 
(4 
CC 


St.  Louis 
cc 


cc 
cc 


cc 


cc 
u 


25^ 


9 

44 
44 
44 


10 
44 

44 


Mark. 


M 

44 


11 


12 

44 

cc 

44 


13 

44 


14 

44 


15 


16 

C4 


/ 

w 


BID) 


n 

44 
44 


\V\ 


(( 


Y 


44 


FREIGHT-BOOK. 

New  Orleans  to  St.  Louis,  June  ISth,  1853. 


Description  of  Freight. 

Weight 

.   Rate. 

Amount. 

Freight 

and 
charges 

paid. 

Freight  and 

charges 

received. 

Remarks. 

40  Boxes  Mdse. 
36       "         " 
45  Bbls.  Molasses 
30  Hhds.  Sugar 

9,000 
12,600 

33,750 

30 
30 
30 
25 

27 
37 
13 

84 

00 
80 
50 
38 

68 

00 
00 
75 

75 
50 

00 
50 
00 
50 

00 

25 

40 
65 

12 

00 

00 
00 

00 

187 

113 
66 

23 

385 

30 
6 

3 

68 

75 
30 

00 

00 

00 
25 

50 

- 

t 

162 

100  Sacks  Salt 
150     "      Coffee 
25  Hhds.  Molasses 

25,500 

20 
20 
25 

20 
30 
63 

113 

, 

40  Hhds.  Sugar 

44,200 

25 

110 

Shipped  on  steamer 
Boston,  at  Cairo, 

30  Boxes  Mdse. 
2  Crates  Crockery 
5  Bbls.  Sundries 

10  Cases  Shoes 

9,000 

20 

1,25 

20 

15 

18 
2 
1 
1 

and  transferred  B. 
L.  to  her,  she  pay- 
ing   our  charges, 
$66,30. 

23 

Scotch  Pig  Iron 

400  Blocks  French  Burr  Stone 

60,000 
80,000 

20 
20 

120 
160 

00 
00 

00 

00 
00 

00 
25 

50 
00 

50 

Rec*d.  Note  at   10 
days    for    $185. 
(Jour.  p.  1.) 
Cash  for  BaL  $200. 
(C.  B.  p.  2.) 

280 

3  Boxes  Pianos 
15      "     Furniture 

1,500 
3,000 

40 
40 

6 
12 

18 

10  Boxes  Sundries 

2,500 

25 

6 

. 

20  Bbls.  Castor  Beans 
8  Casks  Sundries 

12A 
12i 

2 
1 

• 

3 

• 

. 

142,00 

815,48 

188 


189 


STEAMBOAT  SULTANA'S 
PASSAGE-BOOK. 


Trip  No.  l^from  Cincinnati  to  New  Orleans.    / 

Date. 

Names. 

Embarkation. 

Destination. 

Fare. 

1853. 

"- 

„ 

June 

1 

Wm.  H.  Gorin 

Cincinnati 

New  Orleans 

15 

00 

(( 

C( 

Thos.  Cobart 

i( 

Louisville 

3 

00 

« 

« 

Nathan  Ives 

a 

New  Orleans 

15 

00 

(( 

« 

Saml.  Miller 

IC 

Vicksburg 

12 

00 

(i 

u 

Norman  Bliss 

«C 

New  Orleans 

15 

00 

C( 

C( 

R.  A.  Butler 

C( 

(< 

15 

00 

<( 

« 

S.  H.  Hartly  and  lady 

((                ^ 

*» 

30 

00 

« 

« 

James  Benson 

<c 

a 

15 

00 

(( 

(( 

J.  N.  Norton      ) 

«• 

Miss  Norton       > 

Louisville 

Memphis  -^ 

24 

00 

"    Bates         J 

(( 

C( 

I.  Peterson 

cc 

New  Orleans 

15 

00 

(C 

3 

D.  C.  Budd 

Smlthland 

cc 

11 

00 

« 

4 

R.  Buttles 

Memphis 

u 

9 

00 

( 

C( 

Miss  Stanley 

i( 

Natchez 

6 

00 

(( 

6 

B.  Burton 

Vicksburj; 

New  Orleans 

6 

00 

« 

« 

Peter  Quinn 

«( 

cc 

6 

00 

« 

« 

J.  G.  Carlton 

cc 

IC 

6 

00 

tt 

7 

Benj.  Black 

Natchez 

cc 

4 

00 

u 

(C 

Philip  Frazer 

cc 

cc 

4 

00 

V               Amt.  from  Deck-Passage-Book 

C.-B.  page  1. 

38 

00 

f 

$249 

00 

In  this  book  are  registered  the  names  of  the  cabin  passengers,  with  the  place  of  their 
Embarkation  and  destination,  and  the  fare. 

At  or  near  the  end  of  the  trip,  the  amount  from  the  Deck-Passage-Book  is  brought  into 
it,  and  it  is  then  footed  and  the  total  entered  in  the  Cash-Book. 


r 


Date. 


Alp.. 


•853. 
June 


u 
cc 

cc 

u 
cc 
cc 
cc 
cc 
cc 

fe 

It 
cc 

cc 
u 

cc 

cc 
cc 
cc 
cc 

cc 
cc 
cc 
it 
cc 
c 

Ci 

cc 
cc 

((> 

cc 

cc 


13 

(( 
(( 
(( 
(( 
(( 
« 

C( 

cc 
cc 

C( 

cc 
cc 
cc 

C( 
C( 

cc 
cc 
cc 

14 

C( 

cc 

15 
IG 

(( 
cc 
cc 
cc 
cc 
cc 


PASSAGE  BOOK. 

Trip  No.  2,  from  New  Orleans  to  Si.  Louis. 


Names. 


J.  B.  Stackhouse 
R.  D.  Dewey 
Peter  Vanderlip 
Francis  Guerlain 
Marcus  Snow 
Matthew  White 
M.  E.  Brown 
S.  N.  Green 
D.  V.  Black 
J.  B.  Jerome,  wife,  ) 

and  2  daughters    ) 
David  Cross  and  lady 
S.  B.  Beekman 
J.  Andrews 
John  Armour 
Madame  Shawl  and  > 

servant  ) 

D.  Parks 
Silas  Buck 
Seth  Stone,  wife,   ) 

and  sister  ) 

John  Peacock 
C.  Loffland 
C.  B.  Bowes 
A.  H.  Hawley  and  lady 
S.  Birdseye 
S.  W.  Lewelling 
Miss  Simpson 
Wm.  Roberts 
Jas.  Raflin 
Dr.  McDowell 
T.  B.  Withers 
C.  B.  Payne 


Embarkation. 


New  Orleans 

cc 
n 
cc 
cc 
tl 
cc 
cc 

■if 
CI 

cc 
u 
tt 
tt 

tt 

tt 
cc 

cc 

Natchez 
cc 

cc 

Vicksburg 
cc 

Memphis 
cc 

cc 

tt 

tt 

cc 

cc 


Destination. 


St.  Louis 
cc 

cc 

Memphis 

Vicksburg 

St.  Louis 
ti 

ft 

Natchez' 

St.  Louis 

cc 
cc 
cr 

Cairo 

St.  Louis 

cc 
cc 

cc 

cc 
«c 
cc 
cc 
cc 
cc 
cc 
cc 
cc 
cc 
cc 
cc 


Am't.  from  Deck-Passage-Book 


C.-B.  page  2  .  $1  039  W 


Fare. 


1200 

1200 

12100 

800 

500 

1200 

1200 

1200 

400 

4500 

2400 
12m 
12|00 
lljOO 

is'oo 

12^00 


12 

35 

10 
10 
10 


9 
5 
5 
5 
5 
5 
5 


00 

00 

00 
00 
00 


1000 
00 


00 
00 
00 
00 
00 
00 
00 
685l00 


aC^^ 


190 


191 


STEAMBOAT    SULTANA'S 


CASH-BOOK. 


« 

Br     Cash. 

Cash.    Cr. 

— _• 

Jour, 
page. 

Freight. 

Passage 

Sundries. 

Amount. 

Jour. 
page. 

Expenses. 

Wages. 

Freight 

Sundries 

By  Charges  paid  on  Bill  Lading,  No.  2 
*'  Groceries          at  Cincinnati   -     -     - 

25 

00 

1 

To  Simonds  &  Morrison, 

i 

1^ 

r^  /N/^ 

r\.  j^ 

■ 

3000 

for  cash  advanced  Boat      - 

500  uu 

"  Marketing          "         "       -    -    . 

2000 

1 

1           1 

"   Freiirht.  on  Bill  Ladinju,  No.  3     -     - 

1,425  00 

"  ButterandEggs"         "     -     .     -     . 

1500 

[                                   !    a         u"     'u      u           <c   ^      «     5.     .       1 

9  88 

1 

"  Wharfage           "         "  .     .     .    . 

5 

00 

1 

, 

1 

<c         ((         «     «          «          *<     2     -     - 

408  OC 

> 

"  Wharfage           "  Louisville  -     -     - 

1 

00 

\i 

u         u         <t     "          "          "     7  -     - 

10  OC 

) 

"  Canal  Tollage    "         "  -     .     .     - 

75 

00 

I 

"    Passage  as  pr.  Passage-Book       -     - 

249  00 

"  Wharfage          **  Cairo     -     -     -     - 

1 

00 

1 

"    Freight,  on  Bill  Lading,  No.  1  -     - 

3130C 

1 

"  Marketing          <*  Memphis  -     ,     - 

10 

00 

f 

a        u         u     tc        «         "     4     -     - 

31  5C 

) 

• 

1^ 

"  Wharfage          «         "     .    -    -    . 

1      100 

\\          ^ 

cc        «         «     "          «          «    6  -     - 

9'2t 

) 

• 

o 

"         "                  "Natchez    -    -    - 

100 

B                          o 

<(        ((         a     cc          ((          ((     8     -     - 

250  0( 

) 

^ 

"  Fuel,  as  pr.  Fuel-Book      -    -    .    . 

20000 

• 

1            ^ 

•§• 

"  Marketing  at  New  Orleans    -    -    - 

600 

- 

ft                 cu 

H 

"  Freight  paid  Brig  Adelaide  on  Bill 

1            ^ 

\ 

Lading  No.  3     ------ 

700 

00 

\ 

"  M.  B.  Butler        on  %        -    -    - 
"  Benj.  Stockton       "<«---- 

5 
4 

00 
OOi 

a 

^L     • 

"  Peter  Lawrence    ""---- 
"  David  Lyndes       ""---- 

1 
10 

50 
00 

\.                                                           * 

"  Samuel  Johnson    ""---- 

20 

00 

\ 

"  J.  C.  Allen            ««---. 

3 

00 

. 

^k                                                            • 

, 

■ 

"  R.  E.  Patterson     "«---- 
"  Caleb  Woolson     "«.--- 
«  Sarah  Williams     ««.-.- 
«  Ralph  Brown         ««-.-- 

12 
5 
3 

15 

00 
00 
00 
00 

\ 

"  Henry  Webb         ««---. 

5 

OOi 

•       \ 

«  Nathan  Hatch        «"---. 

3 

00 

• 

\ 

1 

"  James  Manning    ""---- 
"  Thos.  J.  Bates       «"--.. 

Paid  for  Expenses  this  trip 

10 
10 

00 
00 

365 

00 

36500 

\ 

1 

"     "   Wages       "     " 

106 

50 

10650 

■. 

1 
1 

1 

Ree'd  for  Freight  this  trip 
«       "   Passage  "     " 
Total  cash  receipts 

3 

249  C 

2,456 
K)     249 

63 
00 

• 
* 

1 
1 

«     "   Freight       "     « 

Total  cash  payments 
"  Balance  on  hand  carried  to  Trip  2 

725 

00 

72500 

2,456  6 

1,196 
2,009 

50 
13 

3,205 

63  3,205 

63 

1 

3,205  63 

I'  I 


i 

lliis  book  is  prepared  with  sundry  columns  on  both  the  debit  and  credit  side.  WTien 
entries  are  made  in  it,  the  sums  are  placed  in  one  or  other  of  the  columns,  accordmg  as 
the  headings  indicate.     Time  is  kept  by  trips,  no  dates  bemg  given.  ...  ... 

At  the  end  of  a  trip  the  different  columns  are  footed  up,  and  the  totals  extended  into 


192 


the  «  Sundries"  columns,  which  are  also  footed,  and  the  closing  is  made  after  the  manner 
shown— the  final  amount  on  the  debit  side,  and  the  balance  brought  down,  being  ex- 
tended into  the  "  Amount"  column. 
The  items  in  the  "  Sundries"  columns  are  then  journalized. 


193 


r 


STEAMBOAT    SULTANA'S 

Dr.     Cash, 


CASH-BOOK. 


Cash. 

Cr. 

Jour, 
page. 

» 

Expenses. 

Wages. 

Freight 

Sundries. 

By  Charges  on  Bill  Lading,  No.  9 

_ 

2500 

"         «        «    ic         ((         ((  23 

. 

105 

00 

"         <c       «    u        It        u  2^ 

. 

12 

00 

"  Groceries         at  New  Orleans 

•       • 

100 

00 

"  Marketing        "          "       -    - 

m 

35 

00 

"  Wharfage         *f          "     -    - 

m           « 

5 

00 

"  Marketing        "  Vicksburg  -     - 

.  mt 

15 

00 

"Wharfage         "          "     .    - 
"  Marketing         "   Memphis  -    - 

-           - 

1 

20 

00 
00 

4, 

c{ 

".Wharfage         "          "     -    - 

m           M 

1 

00 

• 

"  Fuel.  Dr   Fuel-Book  -     -     -     - 

150 

00 

"  D.  Lyndes            in  full      -     - 

50 

00 

a. 

"  S.  Johnson             "     "     -     . 

m           M 

40  00 

H 

"  J.  C.  Allen            "     «  .    -    - 

. 

6  00, 

"  R.  E.  Patterson     "     <«     -    - 

«            m 

15 

00 

"  C.  Woolson           «     «  -     -    . 

s 

7 

00 

"  Sarah  Williams      «     «     -    - 

.■           » 

4 

20 

"  Ralph  Brown        "     "  -     -    - 

. 

21 

00 

■ 

"  Henry  Webb         "     «     .     - 
"  N.  Hatch               «     « .    -    - 
"  M.  B.  Butler          «     «     .     - 
"  Benj.  Stockton       "     « -     .    - 

m           m 

5 

9 

5 

11 

80 
00 
80 
00 

"  Peter  Lawrence     "     "     -    - 

«            « 

4 

50 

"  James  Maiming     "     "  -     -     - 
"  Thos.  J.  Bates      «     «     -    . 

- 

73 
30 

34 

00 

1 

Paid  for  Expenses  this 

trip 

327 

00 

327 

00 

1 

"     "   Wages       " 

(( 

282 

64 

282 

64 

1 
1 

"     "   Freight       "     " 
Total  cash  payments 

142 

00 

142 

00 

75164 



'•  Balance  on  hand  carried  dovm    - 

— 

2,926 

97 
61 

3,678 

i 

194 


195 


J    ..  .' 


STEAMBOAT  SULTANA'S 

JOURNAL. 


Trip  No.  1,  from  Cincinnati  to  New  Orleans^  June  I  si,  1853. 


1 
2 
1 
1 


Freight    Dr.     To  Bills  Payable 

for  charges  on  B.  Lading,  No.  1 


75 


00 


Cash     Dr.     To  Sundries 

To  Simonds  &   Morrison 
"  Freight 
**  Passage 


3,205 


Sundries    Dr. 
Expenses 
Wages 
Freight 


To  Caslt 


Trip  2,  from  N  0.  to  Si.  Louis,  JunelWi,  1853. 

Bills  Receivable     Dr.     To  Freight  ^ 

for  part  pay't  B.  L.  No.  13 


63 


75 


00 


36500 
106  50 
72500 


185 


. 


Cash    Dr.     To  Sundries 
To  Freight 
"  Passage 


1,669 


500 
2,456 
249 


1,196 


00 
63 
00 


50 


00 


48 


Sundries     Dr. 

Expenses 

Wages 


To  Cash 


Freight 


327 
282 
142 


185 


00 
64 
00 


630 
1,039 

751 


0(1 


48 
00 


64 


The  cash  items  in  this  book  come  from  the  Cash-Book.     All  other  entries  are  made 
here  directly  from  the  transactions.     Time  is  kept  by  trips,  and  posts  made  to  the  Leger 
'  in  the  same  manner. 


196 


STEAMBOAT   SULTANA'S 

LEGEE. 


INDEX. 


B. 


Bills  Payable 
Bills  Receivable 
Balance     - 


Cash 


E. 


£.Ypense8 


1 
1 
2 


•    1 


2 


F. 


Freight 


P. 


Passage 
Profit  &  Loss 


1 
2 


S. 


Simonds  &  Morrison 

W. 

Wages 


197 


/' 


*^t 


Dr. 


LEGER. 

Freight. 


Dr. 


Bills  Receivable. 


1853. 
Trip 


To  Freight 


18500 


1853. 

Tiip 


By  Balance 


Dr. 


Cash. 


1853. 

Trip 


1 
2 


To  Sundries 
"      Do. 


1,669 


4,875 


63 

48 


11 


1853. 

Trip 


1 
2 
2 


By  Sundries 
"       Do. 
"  Balance 


198 


Cr. 


185^ 

1 1853. 

! 

Trip 

1   ToBUlsPay. 

1 

75 

00 

Trip 

1 

By  Cash 

1 

2,456  63 

4C 

c< 

"  Cash 

1 

725 

00 

cc 

2 

"  BiUs  Rec. 

1 

18500 

C( 

2 

"    Do. 

1 

142 

00 

cc 

cc 

«  Cash 

1 

630 

48 

(( 

C( 

"  Profit  §•  Loss 

2 

2,330 

11 
11 

_ 

3,272 

3,272 

11 

Dr. 

• 

Bills  Payable. 

-' 

Cr. 

1853. 

Trip 

2 

To  Balance 

2 

75 

00 

1853. 

Trip 

1 

By  Freight 

1 

75 

00 

Cr. 


18500 


Cr. 


1 
1 

2 


Dr. 

Passage. 

Cr. 

1853. 

Trip 

2 

To  Profit  §•  Loss 

2 

1,288 

00 

1853. 

Trip 

cc 

1 

2 

By  Cash 
"    Do. 

1 
1 

249 
1,039 

00 
00 

1 

Dr. 


LEGER. 

Wages. 


1853. 

Trip 


cc 


1 

2 


To  Cash 
"    Do. 


106 

282 


50 
64 


1853. 
Trip 


By  Profit  §•  Loss 


Dr. 


Simonds  S; ^Morrison. 


TsSsT 
Trip 


To  Balance 


3,036 


97 


1853. 

Trip 


cc 


1 

2 


By  Cash 
"  Profit  &  Loss 


Dr. 


Profit  Sf'Loss. 


1853. 

Trip 


cc 
It 


2 
cc 

cc 


To  Wages 
"  Expenses 

'^   Simonds  ^  Morrison 


2 
2 
2 


389114 

692J00 

2,536  97 

3,61811 


1853. 

Trip 

cc 


2 

cc 


By  Freight 
"  Passage 


Dr. 


Balance. 


* 


1853. 

Trip 

cc 


2 
cc 


To  Bills  Rec. 
"  Cash 


185 
2,926 


3,111 


00 
97 


97 


1853. 
Trip 


cc 


2 

cc 


Cr. 


389 


1 
2 


By  BiUs  Pay. 

*'    Simonds  ^r  Morrison 


1 

2 


199 


14 


Cr. 


50000 
2,53697 


D 

r. 

Expenses. 

Cr. 

18.')3. 

Trip 
cc 

1 

2 

To  Cash 
J^    Do. 

1 
1 

365 
327 

00 
00 

1853. 
Trip 

2 

By  Profit  4-  Loss 

2 

69200 

( 

Cr. 


2,330|11 
1,28800 


3,618 


11 

1= 


Cr. 


7500 
3,03697 


3,11197 


I 


M: 


STEAMBOAT   SULTANA'S 
CREWS  LEGER. 


This  is  used  for  keeping  the  accounts  of  the  hands.  It  is  a  book  of  original  entry,  and 
in  fact  entirely  independent  of  any  of  the  other  books.  Its  form  is  so  simple  as  scarcely 
to  need  any  description.  The  names  of  the  hands  are  recorded  in  it  similarly  to  the  titles 
inthemainLeger,  and  if  needed  for  convenience,  an  alphabet  may  be  used  for  referring  to 

them. 

Under  the  name  of  each  person,  the  time  when  he  commenced,  and  the  agreement  with 
him  for  wages,  &c.,  is  stated.  Amounts  paid  him  from  time  to  time  are  entered  to  his 
debit,  and,  as  often  as  is  desirable,  a  settlement  is  made  and  credit  given  for  wages. 


-^ 


gt^-  This  book  is  an  exemplification  of  a  short  and  easy  mode  of  Single  entry  Book- 
Keepmg,  which  may  be  used  to  advantage  by  a  farmer,  or  mechanic,  whose  accounts  are 
few  and  small,  in  preserving  his  business  relations  with  his  neighbors.  See  pages  55^57. 

It  will  also  be  found  very  conyenient  for  keeping  the  accounts  of  the  hands  in  a  aanu- 
facturing  business. 


'^    'f 


CREW'S   LEGER. 

Janies  Maiming^    '     {Capt.)        Dr.        Cr. 


1853. 

June 

10 

11 

20 

u 

(( 

- 

Commenced  June  1st,  1853,  at  $125  pr.  rno. 
To  Cash  on  % 
Do,  in  full 

By  ^  month's  Wages 


(( 


TTiomcLs  J.  Baies^ 


{CUrk.) 


1853. 

June 


10 
20 


Commenced  June  1  st,  1853,  at  $60  pr,  mo. 
To  Cash  on  % 
"     Do.  in  full 

-     By  §  month's  Wages 


David  Lyndes. 


{PUot.) 


1853. 

June 


(C 


10 

18 


Commenced  June  1st,  1853,  at  $100  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages 


10 
50 


60 


OOl 
00 

00 


Samuel  Johnson^         {Engineer.) 


1858. 
June 


10 
18 


Commenced  June  1st,  1853,  at  $100  ;)r.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages 


20 
40 


60 


831.34 


83134 


Dr.        Cr. 


Dr.        Cr. 


6000 


6000 


Dr.        Cr. 


v\ 


II 


It 


200 


Ralph  Broum^ 


1853. 

June 

cc 

it 


10 
18 


{MM.I 


Commenced  June  1st,  1853,  at  $60  pr,  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages 


Dr.        Cr. 


2A 


201 


15 
21 


36 


ool 

00 
00 


"i" 


3600 


36  OU 


CREW'S  LEGER. 


JBenj.  Stockton^  .      (suwmrd.) 

Dr. 

Cr. 

1853. 

June 
<c 

10 
18 

Commenced  June  1st,  1853)  at  $25  pr,  mo. 
To  Cash  on  % 
"    Do.  in  fuU 

By  1  month's  Wages 

4 
11 

00 
00 

00 

15 

GO 

15 

15 

00 

I" 

R.  E.  Patterson^      (Carrnu»r.) 

JDf 

• 
• 

Cr. 

1853. 

June 

10 
18 

Commenced  June  1st,  1853,  at  $45  pr.  mo. 
To  Cash  on  % 
«♦     Do.  in  full 

By  -J  month's  Wages 

12 
15 

00 
00 

27 

00 

27 

27 

00 

' 

1 



Morris  B.  Buller,     {Duk  hand.)       Dr.        Cr. 


1853. 

June 

10 

ti 

18 

IS 

« 

Commenced  Jime  Ist,  1853,  at$lSpr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages^ 


5 
5 


10 


00 
80 


80 


1853. 
June 


« 


10 

18 
« 


Commmced  June  1st,  1853,  at  $15  pr,  mo. 
To  Cash  on  % 
"    Do.  mfull 

By  -J  month's  Wages 


3 
6 


00 
00 


1853. 

June 


10 
18 


Commenced  June  1st,  1853,  at  $18  pr.  mo. 
To  Cash  on  % 
"    Do.  in  full 

By  I  month's  Wages  ,  ., : 


00 
5i80 


■^55" 


1080 


1080 


/  C.  Jlllen^        {Deekund.)        Dr.        Cr. 


9 


00 


Henry  Webb,        (d«»u«a)        Dr.        Cr. 


10 


80 


CREWS   LEGER. 


Nathan  Hatch, 


{Firtwian.} 


Dr.        Cr. 


1853. 
June 


10 
18 


Commenced  June  1st,  1853,  at  $20  pr,  ma. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages 


Caleb  Woohon, 


1S53. 

June 

10 

t( 

18 

(( 

(( 

Commenced  June  1st,  1853,  at  $20  pr,  mo. 
To  Cash  on  % 
Do.  in  full 

By  -J  month's  Wages 


(( 


1853. 

June 

10 

(( 

18 

(C 

(( 

Commenced  June  1st,  1853,  at  $12  pr.  mo. 
To  Cash  on  % 
"     Do.  in  full 

By  I  month's  Wages 


1853. 

June 


10 
18 


Commenced  June  1st,  1853,  at  $10  pr,  mo. 
To  Cash  on  % 
"    Do.  in  full 

By  I  month's  Wages 


203 


300 
900' 


5 
7 


00 
00 


3 

4 


00 
20 


150 

450 


12 


00 


{FinmMM.)        Dr.        Cr. 


12 


00 


Sarah  Williams,     (c*««Jmfi«d.)        Dr.        Cr. 


20 


Peter  Laivrence,      (.cannhoy.)        Dr,        Cr. 


00 


i 

I 


;'S 


i»- 


STEAMBOAT  SULTANA'S  BALANCE  SHEET. 


St.  Louis, 
June  20ih,  1853. 


Freight        .        . 
Bills  Pay. 
Bills  Rec     . 
Cash        .         •         • 
Passage        •         . 
Wages     . 

Simonds  &  Morrison 
Expenses  . 


Face  of  Lager. 


Dr. 


185  00 

2,926  87 


389  14 


692 


00 


4,193  11 


Cr. 


2,330 
75 


1,288 

•         • 

500 


11 
00 


00 
00 


Profit  lb  Loss. 


Dr. 


4,193 


11 


To  Simonds  ^  Morrison,  for  Net  proceeds 


389 
692 


Cr. 


14 
00 


2,536 
3,618 


97 
11 


2,330 


11 


Bimondi  k.  Morrison 


Dr. 


1,288^00 


3,618;  11 


To  Balance,  for  jinCt  due  them 


Cr. 


Baiance. 


Dr. 


3,036 


97 


3,036  97 


500 


185 
2.926 


Cr. 


00 
97 


2.S36 


00 


97 


3.036 


97 


7600 


3,111 


97 


3.036 


3,111 


97 


97 


MANIFEST. 

Steamer  Sultana'a  Trip  No.  2,  from  N.  O.  to  St.  Louis,  June  1 1th,  1853. 


Mark. 

Articles. 

r      Consignee. 

Destination. 

M 

i( 
C( 

40  Boxes  Mdse. 
36     "        Do. 
45  Bbls.  Molasses 
30  Hhds.  Sugar 

L.&G.Farwell&Co. 

(C 
(C 

cc 

St.  Louis. 

(C 

cc 
c< 

^ 

100  Sacks  Salt 

Pratt  &  Co. 

cc 

V 

(( 

w 

Y 

150     "      Coffee 

25  Hhds.  Mols. 

Scotch  Pig  Iron 
400  Blocks  French  Burr  Stone 
3  Boxes  Pianos 

15      "      Furniture 

cc 
cc 

Stacker,  Wood  &  Co. 

cc 

0.  B.  Batewell 
cc 

cc 
u 

cc 
cc 

C€ 

^ 

10      "      Sundries 

A.H.Hawley  (onboard) 

cc 

y 

BB 

20  Bbls.  Castor  Beans. 

8  Casks  Sundries 
40  Hhds.  Sugar 

Jos.  Charles  &  Co. 
ii 

W.  B.  Morris  &  Co. 

cc 
it 

Louisville. 

'•% 

m 

30  Boxes  Mdse. 

Samuel  Ewing 

Memphis. 

CC 

cc 

«C 

2  Crates  Crockery 
5  Bbls.  Sundries 
10  Cases  Shoes 

cc 
cc 
cc 

cc 
cc 
cc 

Thos.  J.  Bates,  Clerk. 

A  mamfest,  as  will  be  readily  seen  by  the  above  illustration,  is  an  exhibit  of  a  vessel'i 
Cargo ;  to  which  is  frequently  added  a  list  of  the  passengers  on  board. 

It  is  made  out  by  the  Clerk,  and  suspended  in  a  prominent  part  of  the  vessel,  so  that  any 
person  interested  may  readily  ascertain  what  goods  are  on  board,  and  to  whom  they  are 
consigned.  204 


STEAMBOAT  REPORT. 

Steamer  Sultana's  Trip  No.  I,  from  Cin'i  io  N.  Orleans,  June  IO//1,  1858. 


Receipts. 

Cash  for  Freight,  as  pr.  Freight-Book   - 
Fare  of  22  Cabin  passengers 
"     "  15  Deck       Do. 


cc 
cc 


cc 
u 


Expenditures. 

Charges  on  B.  L.  No.  1,  paid  by  Note  to  J.  S.  Smith 

"       "     "      "     2,     "    in  Cash   «         "  -         . 

Freight   "     «      "     3,     "    "     "      "  Brig  Adelaide  - 
Marketing,  Tollage,  and  Wharfage    -        -        -        «        - 
Fuel,  as  pr.  Fuel-Book,        ------ 

Am't  paid  Hands 106,50 

«     due     Do. -        .         102,83 


75,00 

25,00 

700,00 

165,00 

200,00 


To  Messrs.  Simonds  &  Morrison. 


Net  proceeds 


T.  J.  Bates,  Clerk. 


BILL  OF  LADING. 


fCSlJ^ 


J^  40  Boxes. 
M36      " 

"  AbBhls. 

«  30  Hhds. 


SHIPPED,  by  T.  Saunders j  on  board  Steamboat  Sultana^  whereof  James  Manning 

is  master,  now  in  the  port  of  JV.  Orleans,  and  bound  for  St.  Louisy 
viz. :  76  Boxes  Merchandise,  45  Bhls.  Molasses,  and  30  Hhds, 
Sugar,  being  in  good  order  and  well  conditioned,  marked  and 
numbered  as  in  the  margin,  and  to  be  delivered  in  like  good 
order  and  condition  (dangers  of  the  river  excepted),  unto  L.  4*  G. 
Farwell  fy  Co.,  or  to  their  assigns,  he  or  they  paying  freight 
on  the  said  Merchandise.  In  witness  whereof,  the  Master  of 
ToL  ScG  Farwell  Sc  Co  ^^^  Steamboat  hath  affirmed  to  three  Bills  of  Lading,  all  of  this 
St  Louis  'tenor  and  date  ;  one  of  which  being  accomplished,  the  others  to 

stand  void. 

Dated  in  N.  Orleans,  the  13/A  day  of  June,  1853. 

James  Manning. 
This  is  an  instrument  used  as  cognisance  of  Merchandise  or  other  property  having  been 
shipped  for  transportation.  It  is  customary  to  have  three  of  the  same  tenor  and  date. 
One  is  retained  by  the  master  of  the  vessel  on  which  the  goods  are  shipped,  another  is 
kept  by  the  shipper,  and  the  third  is  forwarded  to  the  consignee.  These  instruments 
are  printed  blanks.     In  the  above,  the  words  in  italics  are  the  filling  up  of  a  shipment. 


BILL  FOR  FREIGHT. 

Messrs.  L.  &  G.  Farwell  &  Co., 


For  Freight  on  76  Boxes  Mdse.  21,600  lbs.  @  30  c. 
"         "       "  45  Bbls.    Molasses  @  30  c. 

"         "       «  30  Hhds.  Sugar,  33,750  lbs.  @  25  c. 

St.  ijouis,  June  I8th,  1858. 

Rec'd.  payment, 

205 


To  Steamer  Sultana,  Dr 

64,80 

13,50 

•  84,38 

$162,6^ 
Thos.  J.  Bates.  Clerk, 


FORMS  OF  NOTES,  DRAFTS,  RECEIPTS,  &c. 


PROMISSORY   NOTES. 

J      ,  Cincinnati^  Mvember  6th,  1852. 

On  demand,  I  promise  to  pay  A.  Farnum,  or  bearer,  two  hundred  and  twenty-five  -jVV 
dollars,  with  interest.   Value  received.  Peter  Lambert 

No.  16. 


$225." 


$1,200.  Mw  Orleans^  JVovemher  2rf,  1852. 

Sixty  days  from  date,  we  promise  to  pay  Blank  &  Boynton,  at  the  City  Bank,  one 
thousand  two  hundred  dollars,  value  received.  j  q  Smithson  &  Co 

No.  80.  . ^^ 

No.  1   125.  Philadelphia,  January  Ist,  1853. 

Eight  months  after  date,  we  severally  and  jointly  promise  to  pay  to  the  order  of  J. 
Durant  six  hundred  and  seventy-five  and  -jVV  dollars,  without  defalcation,  for  value 
received. 

8675^%. 


Nathan  Peterson. 
J.  W.  Morris. 


Produce  Notb. 


^5Q0^  Philadelphia y  January  Ibthj  1853.  • 

Four  months  from  date,  I  promise  to  pay  to  Charles  Johnson,  or  order,  five  hundred 
dollars,  ia  Flour,  at  the  market  value  when  due,  for  value  received. 

John  Taylor. 

Kkxahka.     lat  If  interest  be  not  mentioned  in  a  note,  it  is  now  generally  concedeil  that  it  cannot  be  collected 
thereon.     But  if  the  time  when  the  bill  falls  due  pass  without  its  being  paid,  InU  is  recoverable  from  that  date,  and 

sometimes  even  damages.  ^  ^       ,         •         .         v 

2d.  Custom  allows  three  days  grace  on  all  notes ;  but  InL  or  discount  is  reckoned  for  thcte  three  dayty  the  same 

as  for  any  other  time.  .  ^^ 

3d.  Notes  drawn  «'  On  demand'*  are  not  /e»a//y  due  until  a  formal  demand,  in  presence  of  witnesses,  has  been 

made.     I'o  avoid  this  inconvenience,  it  is  better  to  write  them  payable  «  One  day  after  date." 

4th.  Notes  made  payable  at  a  particular  place  must  be  demanded,  or  held  in  readiness,  there,  when  due,  before 

the  maker  can  be  held  responsible  at  any  other  place.    For  example,  a  note  payable  at  a  particular  baidi  mutt  l« 

deposited  in  said  bank  for  collection. 

5th.  Some  states  require  the  words  «  Without  defalcation"  to  be  inserted  in  all  bills  to  render  them  negoUable ; 

others  "  Without  defalcation  or  discount ;"  others,  only  the  words  "  Or  bearer,"  "Or  order,"  or  **  To  the  order  of." 


Due  Bill. 

Due,  on  demand,  to  Messrs.  Laflin  &  Stephens,  four  hundred  and  thirteen  ^  dollars, 
with  interest.  John  Lucas. 

Memphis,  July  5th,  1853. 

Produce  Due  Bill. 

Due,  Cincinnati,  January  4th,  1853,  to  S.  P.  Long,  or  order,  thirty-five  dollars,  in 
goods  from  our  store,  value  received.  BoYLE  &  Benedict. 

$35. 

Note.— Due  bills  draw  no  interest  unless  specified. 

206 


DRAFTS. 

$5,000.  St.  Louis,  June  20th,  1853. 

At  thirty  days'  sight,  pav  to  the  order  of  F.  H.  Cossitt  five  thousand  dollars,  without 
defalcation  or  discount,  value  received,  (payable  at  maturity  in  Missouri  Bank  funds,)  and 
charge  to  account  of 
To  Wm.  AHn,      >  ^^'  Rogeks. 

Boonville,  Mo.  J 


$2,000.  Memphis,  Sept.  \2th,  1853. 

Sixty  days  from  date,  pay  to  Messrs.  Parker  &  Co.,  at  the  City  Bank,  two  thousand 
dollars,  value  received,  and  place  the  same  to  account  of  Messrs.  Pervis  &  Wood,  as  per 
advice. 

To  Messrs.  Brander  ^  WUliam^,  >  ^^^  ^'  Maktin  &  Co. 

New  Orleans.  J 

Remarks.  1st.  When  a  draft  is  accepted,  it  becomes  a  promissory  note,  and  can  afterwards,  wiik 
safety,  be  passed  from  hand  to  hand.    For  mode  of  acceptance  see  Vocabulary. 

2d.  Drafts  drawn  payable  at  a  certain  bank,  must  be  deposited  in  said  bank  for  collection.  See  remark 
4th,  under  forms  of  notes. 

3d.  Drafts  drawn  "At  sight"  are  usually  paid  at  the  time  they  are  presented.  All  other  drafts  hare 
three  days  grace  allowed  on  them. 


BILL  OF  EXCHANGE. 

Exch.  $3,000.  JVm  Orleans,  JSTov.  Uth,  1853. 

At  ten  days'  sight,  pay  to  the  order  of  Messrs.  Blank  &  Boynton,  in  Philadelphia,  three 
thousand  dollars,  value  received,  and  place  the  same  to  our  account,  with  or  without 
further  advice. 
To  Mr.  /.  Conly,  )  F.  &  R.  E.  Trrus. 

Philadelphia.     ) 


SET  OF  EXCHANGE. 

Exch.  Je900  Sterling.  Philadelphia,  March  5th,  1853. 

Sixty  days  after  sight  of  this,  our  first  of  exchange,  (second  and  third  of  the  same  tenor 
and  date  unpaid,)  pay  to  the  order  of  Lovering  &  Bache,  in  London,  nine  himdred  pounds 
sterling,  for  value  received,  as  per  advice,  for  the  account  of 


To  Messrs.  Barings  Sf  Co.y  London. 


Clark  &  Co. 


Exch.  Je900  Sterling.  Philadelphia,  March  5th,  1853. 

Sixty  days  after  sight  of  this,  our  second  of  exchange,  (first  and  third  of  the  same  tenor 
and  date  unpaid,)  pay  to  the  order  of  Lovering  &  Bache,  in  London,  nine  hundred  pounds 
sterling,  for  value  received,  as  per  advice,  for  the  account  of 

To  Messrs.  Barings  *•  Co,,  London.  ^^^^  ^  ^^' 


Exch.  je900  Sterling.  Philadelphia,  March  bth,  1853 

Sixty  days  after  sight  of  this,  our  third  of  exchange,  (first  and  second  of  the  same  tenor 
and  date  unpaid,)  pay  to  the  order  of  Lovering  &  Bache,  in  London,  nine  hundred  pounds 
sterling,  for  value  received,  as  per  advice,  for  the  account  of 

To  Messrs.  Barings  fy  Co.,  London.  ^'-^^  ^  ^'^• 

207 


BILLS  AND  SETS  OF  EXCHANGE. 

RxMAnRs.  lut  A  hill  of  exchange  has  nearly  the  same  phraseology  as  a  draft.  But  the  formw  name  is  geno* 
rally  applied  to  a  bill  drawn  payable  in  a  foreign  country  or  state,  while  the  latter  is  restricted  chiefly  to  a  bill  pay- 
able in  some  part  of  the  country  in  which  it  is  drawn.     The  remarks  on  drains  apply  also  to  bills  of  exchange. 

2d.  Set  of  exchange  is  a  term  applied  to  several  bills  of  exchange,  each  drawn  payable  provided  the  others  remain 
unpaid ;  so  that  whichever  is  first  presented  is  paid,  and  the  others  are  then  void.  The  date  of  each  is  the  same, 
and  the  phraseology  also,  with  this  exception — ««  First  of  exchange  (second  and  third  of  the  same  tenor  and  date 
unpaid)" — "  Second  of  exchange  (first  and  third  of  the  same  tenor  and  date  unpaid),"  &,c  Each  bill  of  the  set  is 
sent  by  a  different  conveyance,  as  security  against  loss  or  inconvenience  by  miscarriage. 

3d.  Most  foreigpi  bills  are  now  drawn  through  bankers,  or  brokers,  and  a**  Set  of  exchange"  is  commonly  spoken 
of  as  a  «  Bill  of  exchange,"  without  regard  to  the  distinction  between  a  single  bill  and  a  set, 

4th.  When  a  bill  of  exchange  is  protested  for  non-acceptance  or  non-payment,  and  returned,  the  holder  can  recovr^r 
the  amoimt  of  the  bill,,  and  damages  «*  consisting,  besides  interest,  of  the  exchange  or  ro-exchange,  commission, 
postage,  and  expenses  of  protest,  and  interest  on  those  expenses,"  from  either  the  drawer  or  endorser,  or  if  accepted, 
the  acceptor.  Several  of  the  states  have  special  enactments  upon  the  subject,  allowing  a  certain  per-centage  in  addi- 
tion to,  or  in  lieu  of,  these  damages. 

5th.  When  an  acceptance  is  partial,  as  to  pay  a  part  instead  of  the  whole  bill,  or  qualified,  as  to  pay  provided 
some  future  event  occurs,  notice  of  such  partial  or  qualified  acceptance  should  be  given  by  the  holder  to  the  other 
parties  to  the  bill,  if  he  mean  to  resort  to  them  in  case  of  non-payment 

6th.  A  bill  is  sometimes  drawn  at  usance,  which  means  the  usual  time  for  pay  nrient  allowed  by  the  custom  or  law  of 
the  place  where  it  is  payable.  The  usance  of  Amsterdam,  Rotterdam,  Antwerp,  Hamburg  and  Bremen,  is  1  mo.  after 
date ;  of  Madrid  and  Gibraltar,  3  mos.  after  sight ;  of  Leghorn,  Genoa,  Venice,  and  Naples,  3  moa  after  date ;  of 
London,  60  days  after  sight;  of  Paris,  Bordeaux,  Malta,  and  Rio  Janeiro,  30  days  after  date;  of  Dublin,  21  days 
after  sight ;  of  Dantzic,  14  days  after  date ;  of  Leipsic,  14  days  after  acceptance. 

7th.  In  most  foreign  countries,  as  in  the  United  States,  days  of  grace  beyond  the  time  when  a  bill  becomes  doe  are 
allowed  for  its  payment.     The  days  of  grace  in  Great  Britain  are  3,  except  on  bills  drawn  payable  at  sight,  which 
must  be  paid  as  soon  as  presented.     In  Geneva  they  are  5;  in  Lisbon,  Amsterdam,  Antwerp,  Rotterdam,  Cadiz,. 
Venice,  Oporto,  and  Rio  Janeiro,  6;  in  Bremen  8;  in  Dantzic,  Paris,  and  Bordeaux,  10;  in  Altona  and  Hamburg, 
12;  in  Malta,  13;  in  Madrid,  Gibraltar,  Barcelona,  and  Bilboa,  14 ;  in  Genoa,  30.     ^ 

ORDERS. 

Mr.  James  Park  will  please  pay  to  S.  Ely,  or  bearer,  eighty  dollars,  in  merchandise, 
on  our  account.  yr^  Hughes  &  Co. 

Memphis y  May  22d,  1852. 


Mw  Orleans,  Kovember  23(/,  1852. 
Messrs.  Blank  &  Boynton  : 

Gentlemen — Please  pay  Messrs.  Rogers  &  Co.,  or  order,  the  fifty  dollars  due  me  for 
repairs  of  your  store,  and  oblige 

Yours,  &c.,  S.  Bridges. 


RECEIPTS. 

Received  of  Mr.  J.  S.  Brown,  three  hundred  dollars,  in  part  of  his  account.     Phila- 
delphia, January  18th,  1853.  J.  M.  Reynolds. 

Received,  St.  Louis,  December  4,  1852,  of  Messrs.  Sifert  &  Philips,  seventy-fire  dol 
lars,  in  full  for  all  demands.  j^  ^  Gibbs 

$75. 


mm'^ 


3*. 


0  Muve  <JOa\>o\,  ui 


(>0A/   u 


veeA€<n 


T        <•% 


2B 


209 


Received  from  Mr.  A.  C.  Keyes,  two  hundred  dollars,  which  is  endorsed  on  his  Note 
of  June  5th,  1852.  ^  q  Martin. 

$200. 

CindnnaiL  January  \sU  1853. 

208 


I 


il 


». 


PRACTICAL  FORMS. 


PRELIMINARY   REMARKS. 

In  the  former  part  of  this  work,  the  nature  of  transactions ;  the  philosophy,  object,  and 
utility  of  the  various  accounts ;  the  manner  of  treating  diversified  operations,  both  simple 
and  complex,  which  arise  among  every  class  of  the  trading  community  ;  in  short,  all  those 
general  principles,  which  are  the  foundation  of  the  science  of  Book-keeping,  have  bern 
fully  discussed  and  elucidated. 

A  variety  of  Forms  for  practical  purposes  will  now  be  given,  which,  while  they  will  so 
abbreviate  the  operations  as  to  lessen  materially  the  amount  of  labor  requisite,  will  not  in 
the  least  depart  from  the  fundamental  principles  of  the  science,  but  will  rather  require  a 
previous  knowledge  of  them,  in  order  to  be  understood  and  appreciated.  These  Forms 
will  be  found  adapted  to  almost  every  variety  of  business,*  from  the  most  simple  to  the 
most  complicated ;  requiring  only  such  slight  alterations  as  the  taste  of  the  Book-keeper  or 
the  circumstances  of  the  case  may  suggest. 

Much  might  be  said  of  the  utility  and  real  practical  adaptedness  of  the  following  Forms; 
but,  it  is  believed,  they  will  commend  themselves  to  all  who  will  give  them  a  careful 
examination. 


The  Legers  to  the  Forms  following  are  omitted,  thinking  it  unnecessary  to  occupy 
room  with  them.  Any  new  features  in  them  are  explained.  But,  lest  there  should  be 
any  difficulty  in  fully  comprehending  them,  from  the  explanations,  I  have  caused  the 
Legers  to  Forms  3,  4,  and  6,  to  be  inserted  in  the  Key,  which  those  who  find  it  neces- 
sary can  procure. 

Several  of  the  minor  auxiliary  books,  necessary  for  each  of  the  Forms,  are  also 
omitted. 


♦  It  may  be  well  to  Pu?gest  that  the  Form  of  hooka  appropriate  to  Shipping  bnifmw  Is  «hown  in  Set  VI.    The  Form  fo?  SUminboai 
bookB  has  also  be<^n  given. 


210 


PEACTICAL  FORM, 

No.  1. 


This  Form  is  intended  for  professional  gentlemen,  mechanics,  teachers,  and  others,  whose 
accounts  are  limited.  It  will  be  found  to  embrace  all  the  essential  features  and  advantages 
of  Double  Entry,  with  little,  if  any,  more  writing  than  is  required  in  Single  Entry  books. 
To  make  this  clear  to  all,  by  comparison  of  the  two  systems,  the  same  entries  are  used  in 
illustrating  this  Form  as  were  given  in  Set  I,  Single  Entr)'. 

The  only  books  necessary  in  Form  1  are  a  Day-Book  and  Leger,  the  latter  of  which  is 
here  omitted. 

The  Day-Book  is  the  first  book  of  entry  for  all  transactions,  the  left  hand  page  being 
occupied  with  the  date,  the  record  of  transactions  which  occur,  and  columns  for  Leger 
folios  ;  and  the  right  hand  page  being  divided  into  six  columns  for  dollars  and  cents.  Two 
of  these  columns  (one  debit  and  one  credit)  are  for  Cash,  two  for  Shop,  and  two  for  Sun- 
dries. Into  the  Cash  debit  column  are  extended  all  receipts  of  Cash  ;*  into  the  credit,  all 
payments  out  of  the  same : — into  the  Shop  debit  column,  all  outgoes  and  expenditures 
which  may  be  properly  considered  as  incurred  for  that  account ;  into  the  credit,  all  pro- 
ceeds resulting  from  the  same : — and  into  the  Sundries  columns,  debits  and  credits  to 
accounts  of  persons,  or  to  any  other  accounts,  except  Cash  and  Shop.  The  right  and  left 
hand  pages  of  the  blank  book  used  constitute,  together,  one  page  or  folio  in  the  Day-Book. 

No  Cash-Book  is  required ;  and  whenever  it  is  wished  to  balance  the  Cash  account,  tKe 
debits  and  credits  are  added  up,  and  opposite  their  totals,  the  amount  in  bank  and  in  safe, 
being  the  balance  on  hand,  is  entered  in  red  ink,  which,  if  the  account  be  correct,  will 
agree  with  the  difference  between  the  debit  and  credit  footings.  In  each  subsequent 
balance  of  Cash,  the  last  preceding  footings  of  the  columns  are  included  in  the  additions 
made ;  thus  the  gross  amount  of  Cash  received  and  paid  out  is  carried  forward,  until  such 
time  as  it  is  desirable  to  post  it. 

At  the  bottom  of  each  folio,  the  several  columns  are  footed  up,  and  the  amounts  taken 
forward  to  the  folio  following. 

Those  items  extended  into  the  Sundries  columns  are  posted  from  day  to  day,  at  conve- 
nience, to  the  debit  and  credit  of  their  proper  accounts;  but  items  extended  into  the  columns 
appropriated  to  Cash  and  Shop  accounts  are  not  posted  until  the  close  of  the  week,  month, 
or  three  months,  according  to  the  taste  and  convenience  of  the  accountant.  It  is  well  to 
check  the  items  s^  omitted  in  posting,  to  avoid  errors.  When  the  periodical  time  selected 
arrives,  the  gross  amounts  are  posted  to  the  Cash  and  Shop  accounts  respectively,  as  indi- 
cated by  the  headings  of  the  different  columns.  The  final  footing  of  each  column  shows 
the  amount  to  be  posted  in  each  case,  except  the  debit  side  of  Cash ;  from  which  the 
Balance  on  hand,  if  any,  at  former  posting,  must  be  deducted,  to  give  the  proper  debit 
post  to  this  account.  The  balance  of  Cash  on  hand,  which  is  placed  in  the  Cash  debit 
column  on  commencing  again,  must  also  be  placed  in  the  Sundries  credit  column  to  pro- 
duce the  equilibrium. 

The  "  Proof"  is  obtained  by  adding  all  the  debit  and  all  the  credit  footings  together,  to 
see  if  they  are  equal. 

NoTB. — ^Tn  a  printed  book  of  th5s  Form  it  is  nomewhat  diffloult  to  trace  the  tigures  on  the  right-hand  page;  hot  in  a  blank  \tofA.  te 
the  counting-house,  this  difficulty  is  obviated  by  the  faint  ruled  lines  on  which  to  write. 


N.  B.  The  columns  headed  "Shop,"  may  have  any  other  heading,  such  as  **Profis- 
sional  Services,"  "Institute,"  Daguerreotyping,"  &c.,  to  suit  the  business;  and  additional 
columns  may  be  introduced  for  any  account  having  sufficiently  numerous  entries  to  make  it 
desirable. 


•  Because,  when  Cash  is  received,  it  costs  value,  and  is  debtor. 

*if"  Pleajw  mark  particularly  the  application  of  the  general  rule  for  journalizing  in  all  the  entries  made  in  each  ililTerent  Form* 
Thir  is  the  grand  test  0/  oorrectnett  in  making  debits  and  credits,  and,  if  violate<l,  it  is  a  certain  sign  of  error. 

211 


DAY-BOOK,  FORM  1. 

Philadelphia^  September  1st,  1852. 


Pate. 


1852. 


<c 

C( 

*i 

(C 

It 
ti 

H 
ti 


it 
It 
tt 

tt 

tt 

ti 


tt 


tt 


tt 


(( 

3 

tt 


Description. 


For  Effects  invested 

On  band 

Stock  of  Tools,  pr.  Inventory 


tt 
tt 
tt 


Sundries    To  Stock, 

Cash, 

Shop, 

Shop     To  Cash, 

Paid  for  Paints,  Oils,  Glass,  Brushes,  Ac,  pr.  Adams*  Bill 

Bailey  T.  Stokes     To  Shop,  ^  Lettering  Tin  Sign 

1  Light  Stained  Glass 

Shop    To  Cash, 

2  Books  Gold  Leaf,  75/,  making  Step  Ladder,  |6.00 

May  land,  Morris  &  Co.     To  Shop,  Bronzing  Candelabra 

Shop     To  Cash,  Muslin 

Thomas  Templeton     To  Shop,  Bronzing  Valve 

6  lbs.  Blue  Paint,  @  26 ;» 

18"   White  "      "    12« 

Cash     To  Shop, 

Glazing  27  Lights  for  S.  Lambert,  10  by  12,  @  26/ 

Camden  &  Amboy  R.-R.  Co.     To  Shop, 
Lettering  Sign,  60  feet,  @  20/  pr.  foot 
Gilding  Border  of  Sign 
Putting  up  Sign 

Shop     To  Geo.  L.  Searles, 
Geo.  L.  Searles    To  Cash, 
Shop     To  Cash, 


1.76 
5.00 


.60 
1.50 

2.25 


12.00 
2.00 
2.50 


(( 


(( 


tt 

7 

tt 

8 

tt 

t( 

tt 

C( 

tt 

9 

tt 

11 

cs 

tt 

( 

it 

tt 

1  « 

13 


4  days'  labor,  @  $1.50 

On% 

Paid  Wages,  pr.  Time-Book 

In  Bank,  $345.00,  in  Safe,  $41.31  =  J5a/.  on  hand,  $38G.81 

Camden  &  Amboy  R.-R.  Co.     To  Shop, 

Lettering  Sign,  15  feet,  @  20/  8-W> 

Making  Board  and  putting  up  ^-^^ 

Shop     To  Henry  Talbott, 

Making  Sign  for  Camden  &  Amboy  R.-R.  Co. 

Cash    To  Shop 

Rec'd  of  John  Payson,  for  painting  Sign,  pr.  agreement 
Cash     To  Bailey  T.  Stokes,  In  full  of  % 

Shop     To  Jonathan  Long  &  Co.,  Paints,  Oils,  &c.,  pr.  Bill 

Jonathan  Long  &  Co.     To  Cash,  In  part  of  above  Bill 

Shop     To  Wm.  G.  Bradbury,  Bill  of  Paints,  Glass,  &c. 

Thomas  Templeton     To  Shop,     ^  '  Glazing  1  Light,  11  by  18 

Jonathan  Long  &  Co.     To  Sundries, 

To  Cash,  Paid  on  % 

To  Shop,  Glazing  10  Lights,  10  by  18,  ©25/ 

Shop     To  Geo.  L.  Searles,  5»  days'  labor,  @  $1.00 

Geo.  L.  Searles    To  Cash,  On  % 

Shop     To  Cash,  Smith,  Wages  in  full 

In  Bank,  $364.93,  in  Safe,  $10.00=Ba/.  on  hand,  $374.93 
Philadelphia  Exchange     To  Shop, 

Glazing  4  Lights,  10  by  16,  @  25  /  1-00 

Painting  8  Rooms,  2  Coats,  pr.  agreement,  ^^^Q 


2 

>/ 

3 

%/ 

3 

3 


4 


%/ 

v/ 
v/ 


Amounts  forward 


>/ 

%/ 
v/ 

4 

3 
4 


v/ 

4 


4 

>/ 

v/ 


>/ 

2 
4 

o 

4 
%/ 

v/ 


212 


Dr. 


■1 
\.  f 


Cash. 


500 


00 


675 


506 


30 
6 


75 


543 


00 
75 


50 


543 


Bal. 


50 


H 


DAY-BOOK  FORM  1. 


Cr.       Dr. 


105 


32 


75 


37 


3 
6 


120 


00 
00 


44 


25 


00 


10 


9 
4 


00 


00 
13 


168 


168 

874 


57 


57 


93 


Shop. 


75 
105 


00 
32 


75 
37 


6 
6 


00 
00 


00 


52 
140 


64 
00 


8 
4 


406 


25 
13 


46 


Cr. 


213 


6 


2 
4 


6 
16 


75 


00 
25 


75 
50 


25 


Dr. 


3000 


16 


37 


50 


00 


92 


Proof 


37 


Sundries. 


16 
3 


75 


00 


25 


25 


50 
00 


25 


12 


16 


00 

37 
50 


00 


102 
1,062 


00 


62 
58 


Cr. 


575 


00 


10 


00 


6 
52 

140 


75 
64 

00 


8 


25 


79164 


1,062 


68 


% 


ttf 


DAY-BOOK,  FORM  1. 

Philadelphia^  Septeniher  \5th,  1852. 


1862. 


Sep. 


1852. 
Sep. 


(( 


Ci 


cc 


u 


<i 


15 


17 

18 

<* 

(( 

-(( 

« 


<( 


cc 

(( 
cc 
cc 
cc 
cc 


20 

1( 
u 

22 
24 

25 


Amounts  Bro't  forward 

J.  Long  &  Co.     To  Camden  &  Amboy  R.-R.  Co., 

My  order  on  C.  &  A.  R.-R.  Co.,  favor  of  J.  Long  &  Co. 

Cash     To  Shop,  37  lbs.  Blue  Paint,  (^25/ 

Shop     To  Geo.  L.  Searles,  8^  days'  labor,  ©  $1.50 

Geo.  L.  Searles.     To  Cash,  In  full  (discharged) 

Cash     To  Shop, 

2  Lights,  10  by  20,  Stained  Glass,  @  $4.50 

Shop     To  Cash,  '       %■-  Smith,  Wages  in  full 


In  Bank,  $374.43,  in  Safe,  $5.25 


it 


27 


cc 

28 
29 

cc 

30 

C( 


1852. 

Oct. 


Balance  Cash  on  hand,  from  Sept.  18th, 

Cash     To  Shop, 

Sold  to  T.  Stone  120  lbs.  White  Paint,  @  11/ 

Shop     To  Cash,  Repairs  of  Shop 

Making  Transparency  Frame 

Sargeant  &  Willis     To  Shop 

Stained  Glass  Transparency,  Frame,  and  putting  up,  as  agreed 

Cash     To  Shop, 

Rec'd  of  J.  F.  Godwin,  for  Stained  Glass,  pr.  agreement 

«<      "  Harry  Riddle,  for  painting  Church,         " 

Bailey  T.  Stokes      To  Shop,  Glazing  New  Sash  at  Manu- 
factory, as  pr.  agreement,  to  wit : 

56  Lights,  11  by  15,  @  9;*  ^>0* 

139     "       10  "   12,  '*  7  '    ^                    ^'^ 

1920  "       8     "   10,  "  3  *                  &"<50 

20       "       OldGlazing,  11  by  17,  ©  35/  7.00 

Painting  110  Window  Frames,  @.  45/  49.50 

♦•        Reception  Room  5.>o 

Shop     To  Cash,  Paid  Wages,  pr.  Time-Book 

In  Bank,  $541,75,  in  Snfe,  $^4.00=  Bal.  on  hand,  $:C5.75 

Personal  Expenses     To  Thomas  Templeton, 

1  Blk.  Cloth  Dress  Coat  15.00 

1  Pr.  Blk.  Cass.  Pants  ^'0^ 

Shop     To  Cash, 

Paid  P.  Lee  for  Sundry  Jobs  Carpentering,  as  pr.  Bill  j 

'♦  for  10  Gals.  Linseed  Oil,  @  $1.02* 

Cash     To  Shop, 

Shop     To  Cash, 

Sargeant  &  Willis    To  Shop, 

Shop     To  Cash, 

Paid  H.  Smith  Wages  in  full 

*♦  Rent  of  Shop,  one  month,  to  date 

Cash  debits,  $637.88,  less  former  Bal.,  $379.68= $258.20  Cash  Receipts 
In  Banky$62lA3,  tn-SfTfe,  $18.65 


4 

1 


5 


4 
k/ 
v/ 

1 

2 


;I 

t 

v/i: 

It 


Rec'd  for  Tin  Sign 
Tin  and  Japnnning 
Painting  Office,  as  agreed 


Balance  Cash  on  hand,  frqm  Sept.  30th 

214 


2 


5 
v/ 

I 

2 


v/ 


•J 


J. 


v/ 
v/ 
v/ 
v/ 

1 

2 


I 


Hr 


Cash. 


543 


50 


25 


00 


561 


BaL 


75 


37968 
13  20 


25 


00 


210,00 


627 


88 


10 


00 


637 


BaL 


540 


88 


08 


DAY-BOOK,  FORM  1. 


Cr. 


168 


57 


Dr. 


182 


379 


50 


00 


07 


68 


2 
4 


12 

38 


25l63 


32 


13 


22  50 


16 
4 


6 
16 


25 
25 


00 
67 


97 


540 


80 


08 


Shop. 


Cr. 


406 


46 


25 


00 


417 


71 


12 

4'38 


2563 


22  50 
16  25 

25 


6  00 
16'67 


97 


80 


92 


37 


25 


Dr. 


110 


00 


Proof 


62 


13 


40 


20 


00 


2&00 
21000 
134  12 


10^00 
30  00 


462 


Proof 


32 


215 


Sundries. 


102 
15 


62 
14 


50 


125 


1,104 


26 


72 


40 


00 


13412 


21 


00 


30  00 


225 


12 


960 


80 


Cr. 


791 

15 

5 


64 
14 

25 


812 


1.104 


379 


03 


72 


68 


21i00 


400  68 


9  60!  80 

"F=- 


540  08 


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Philadelphi 
September  80th 

Stock    . 
Cash 
Shop 

Personal  Expenses 
Bailey  T.  Stokes  ' 
Mayland,  Morris  & 
Thomas  Templeton 
Camden  &  Amboy 
Henry  Talbot 
Wm.  G.  Bradbury 
Philadelphia  Excha 
Sargeant  &  Willis 

1 

tools 
paints 

^^H 

"Zz 

H 

« — 

Stock 
it 

^^H 

1 

'•                                                 . I                ,.                 11 

PRACTICAL  FORM, 

No.  2. 

This  Form  is  intended  for  a  retail  merchandising  business,  in  which  the  purchases  are 
made  periodically,  or  in  large  amounts.  It  is  so  arranged  as  to  post  to  the  credit  of  Mer- 
chandise monthly,  and  thereby  save  much  labor.  The  books  of  original  entry  are  a  Day- 
Book,  Cash-Book,  and  Petty-Cash-Book.     Posts  are  made  from  the  Day-Book  only. 

t 

DIRECTIONS  FOR  WRITING  UP. 

Prepare  the  necessary  blank  books,  by  ruling,  heading,  &c.,  after  the  formulas  given. 

Enter  in  your  Day-Book  the  effects  invested  on  1st  inst.,  as  shown  in  the  Day-Book 
given  ;  also,  in  your  Cash-Book,  on  the  debit  side,  the  Cash  entry  of  1st  inst. 

Next  enter,  on  the  debit  side  of  the  Cash-Book,  the  receipt  of  Cash  for  Bills  Receivable 
on  the  7th  inst. ;  then,  on  the  credit  side,  the  payments  of  Cash  for  Expenses  and  Merchan- 
dise on  the  8th. 

Follow  with  the  entries  of  9lh  inst.,  in  both  Day-Book  and  Cash-Book,  then  of  11th,  and 
so  on,  in  order  of  date,  until  the  16th  inst. 

Now  transfer  all  the  entries  from  your  Cash-Book  to  your  Day-Book,  as  follows : — Say  in 
Day-Book  "Cash  To  Sundries" — seek  the  first  debit  to  Cash  (after  the  amount  invested), 
and  place  it  down  underneath,  with  the  date,  to  the  account  of  Bills  Receivable,  checking 
opposite  the  amount  in  the  Cash-Book,  to  show  it  is  entered  in  the  Day-Book ; — examine 
to  see  if  there  be  any  other  receipts  from  the  same  source,  and,  if  so,  place  them  down  also, 
with  the  date,  checking,  as  before,  in  the  Cash-Book ; — after  finding  all  that  comes  under 
the  head  of  Bills  Receivable,  take  the  next  account  in  order  in  the  Cash-Book,  and  so  on, 
till  all  the  debits  are  transferred.  Write  up  the  credits  in  the  same  manner,  heading  them, 
"  Sundries  To  Cash." 

Aft:er  this,  continue  the  Cash-Book  and  Day-Book  connectedly,  until  the  end  of  the 
month. 

For  convenience,  all  the  postings  may  be  omitted  until  the  end  of  the  month,  although  it 
will  be  seen  that  the  arrangement  is  such,  that,  in  actual  business,  the  accounts  of  persons 
might  be  posted  from  day  to  day,  so  as  to  be  always  ready  for  settlement. 


DAY-BOOK. 


All  transactions  are  entered  in  this  book  as  they  occur,  except  receipts  and  payments  of 
Cash,  which  are  first  entered  in  the  Cash-Book,  and  then  brought  into  this  once  a  month, 
or  oftencr.  This  book  has  an  extra  credit  column,  into  which  all  the  credits  (sales)  of 
Merchandise  are  extended.  This  column  is  footed,  and  the  aropunt  carried  forward  from 
folio  to  folio,  until  the  close  of  the  month,  when  the  sum  total  is  posted  to  the  credit  of 
Merchandise.  The  items  entered  in  the  other  two  columns  are  posted  from  day  to  day,  as 
convenient. 

By  examining  the  formula  given,  the  manner  of  entry  and  extension  in  the  different 
columns  will  be  readily  comprehended.  It  will  also  be  seen  that  the  two  credit  columns 
are,  together,  equal  to  the  debit ;  thus  at  the  close  of  the  month,  when  all  are  posted,  we 
have  carried  out  strictly  the  principle,  that  "  In  amount  every  debit  must  have  a  credit," 
with  very  little  more  writing  than  Si7igle  Entry  books  would  have  required  for  the  same 
business,  and  with  much  more  satisfactory  results. 

In  order  to  have  a  proof  of  each  page,  an  amount  equal  to  the  footing  of  the  Merchar  • 
dise  column  toust  also  be  carried  forward  into  the  Sundries  debit  column. 
2C  217 


216 


"Hi^^* 


'    *l 

"1  tf 


Dr. 


CASH-BOOK,  FORM  2. 

Cash. 


Date. 


1862. 

Oct. 


(( 
it 
a 
a 
(( 


11 
12 
13 
14 

15  " 

16  " 


To  Stock, 

"  Bills  Receivable, 
"  Merchandise, 
"  Do. 

"  Do. 

"  Bills  Receivable, 
**  Merchandise, 
Do. 


Amount  inTested 

Rec'd  for  D.  Mann's  Note,  No.  3 

Sales  pr.  P.-C.-B. 

(«    «(        « 

<<     u        «« 

John  Allen's  Note,  No.  2 
Sales  pr.  P.-C.-B. 


1852. 

Oct. 


C( 

(( 
(( 
cc 
<( 
(( 
«( 

(C 

(( 
u 

u 


Do. 


D.-B.,  folio  1, 


18 

iC 

cc 

19 

20 

21 

22 

23 

25 

26 

27 

C( 

28 

cc 

29 

cc 

30 


To  Balance  from  Old  % 
"  Wm.  Bates,  In  full  of  ^ 

"  Bills  Receivable,  Slade  &  Co.'s  Note,  No.  4,  due 

Jan.  18th  /63,  less  Dis.,  pr.  Contra 

Merchandise, 
Do. 
Do.  " 
Do. 
Do. 
Do. 
Do. 


cc 
cc 
cc 
cc 
cc 
cc 
cc 


Sales  pr.  P.-C.-B. 


«i 


t< 


4( 


l( 


4( 
(( 


i( 
<t 


If 
(< 
(I 
«( 
$t 


CC 

cc 


u 


Do.  "     " 

Bills  Receivable,  J.  Bailey's  Note,  No.  6,  due  Apr. 
12th,  less  Dis.,  pr.  Contra 

"  Merchandise,  Sales  pr.  P.-C.-B. 

"  Isaac  Norris,  On  % 

"  Merchandise,  Sales  pr.  P.-C.-B. 

"   Interest,  Bis.  on  Note,  No.  1,  pr.  Contra 

Merchandise,  Sales  pr.  P.-C.-B. 
Do.  "    "       " 


cc 
c< 


D.-B.,  folio  8, 


76 

110 

31 


50 
00 
00 


566|09 
30  50v/ 

5160n/ 


6078 

26  10 

356.05 

9110 


To  Balance  from  Oct.  30th  /52. 


46 

77 

81 

106 
251 


13 

77 

29 

10 
,66 


1,314 


48 


lOOjOOv/ 

lOOOv/ 

876v/ 


1,314 


.4Sy^ 


2,081  ;43 


j      965  96 


1852. 
Nov. 

The  above  Cash-Book  is  believed  to  be  the  most  convenient  form  for  a  business  like  that 
"  Si'^aiSS^^^  are  merely  as  a  matter  of  convenience,  to  facilitate  in 

'"'^s^t^zii:::^'^^,^  ror  .1  s2  ^^^^^i:x^ 

^  entry  at  the  close  of  each  day  ^o™ '^'^P^'V "  f  irkv  Book  this  col  .mn  is  added 
Whenever  you  choose  to  transfer  your  Cash  entr.es  to  the  D»y-B°ok  th's  ~J  >^  ^^ 
ap,  and  thi  amount  extended  into  *«  Sundries  column.     AU  recejts  o    Ca."  ^-^/.^^ 


CASH-BOOK,  FORM  2. 


Cash. 

c 

i-. 

ies. 

Date. 

Expenses. 

Sundr 

1852. 

- 

Oct. 

8 

By  Expenses,                            Travelling  Fare,  Board  at  Boston, 
and  other  Incidental  Expenses,  as  pr.  Memorandum 

31 

m 

ic 

cc 

"  Merchandise,                   Paid  Freight 

12|50%/ 

cc 

9 

Do.                                 Purchases,  pr.  Invoices 

1,353:26%/ 

cc 

11 

"   Expenses,                             Blank  Books,  pr.  BiU 

11 

75 

c< 

12 

"           Do.                                 1  Ton  Coal 

4 

50 

cc 

16 

"  Barber  T.  Lee,              On  % 

600v^ 

cc 

cc 

"  Expenses,                           Wages  of  Gerks 

D.-B.,  folio  2, 

16  50 

64  00 

64  00v^ 

<c 

cc 

"  BaL  on  hand  to  Mw  % 

566.09 

1852. 

2,00  lj85 

Oct. 

18 

By  Interest,                              Dis.  on  Note  No.  4,  pr.  Contra 

77v/ 

cc 

cc 

"   Barber  T.  Lee,              On  % 

200v/ 

cc 

22 

"    Expenses,                            Paid  for  Store  Fixtures 

1300 

M 

<c 

"          Do.                                   ««  BiU  of  Stoves 

22 

50 

CC 

23 

"          Do.                                    "  Wages 

8 

75 

cc 

25 

"           Do.                                      "   Porterage 

1 

13 

, 

cc 

27 

"    Merchandise,                  Bo't  of  Philip  Trent,  Agent  of 

Abbott  Lawrence,  Boston,  pr.  Invoice 

510  28v/ 

cc 

ti 

*'  Interest,                               Bis.  on  Note  No.  6,  pr.  Contra 

1 

77%/ 

u 

29 

"    Bills  Payable,                    Note  No.   1,  favor  of  Draper  & 
Warren,  Boston,  due  April  9th,  having  been  sent,  by  my 
request,  to  the  Quincy  Bank  for  collection,  I  have  paid  the 
same,  less  Dis.,  pr.  Contra,  Am't 

520 

40v/ 

c< 

30 

"    Expenses,                         Paid  Wages 

9 

I2I 

Do.                                    **  Rent  of  Store,  1  mo. 

15  00! 

it   • 

cc 

"  Barber  T.  Lee,                 «  in  full 

D.-B.,  folio  3, 

10|75v/ 

% 

69  50 

6950%/ 

a 

« 

"   Bd.  OH  hand,  to  Nov.  Ut  /52 

965 

9€ 

_^^,^^ 

2,081 143 

_ 

1 

I 

time  to  time.     Prior  to  entering  in  the  Day-Book,  it  is  added  up,  and  the  amount  extended 
into  the  Sundries  column,  which  then  contains  all  Cash  credits. 

lu  transferring  either  debits  or  credits  from  the  Cash-Book  to  the  Day-Book,  only  those 
items  which  are  embraced  in  the  Sundries  column  are  taken  ;  thus  the  credit  to  Merchan- 
dise, and  debit  to  Expenses  are  in  sums  total  in  the  Day-Book. 

When  Bills  Receivable  are  paid  before  due,  as  in  the  entry  of  I8th  inst.,  the  whole  face 
of  ihe  note  is  first  entered,  as  if  money  was  really  received  to  that  amount ;  and  then  on 
the  opposite  side  Interest  is  debited  for  the  amount  of  discount  on  the  note  ;  this  gives  the 
right  credit  to  Bills  Receivable. 

The  same  remarks  apply  to  Bills  Payable,  when  paid  before  due. 

As  it  would  not  be  convenient  in  this  arrangement  of  Cash-Book  to  make  a  formal  balance 
of  it  nightly,  this,  is  done  in  the  Petty- Cash-Book. 

219 


1  I 

: 


r 


PETTY-CASH-BOOK,  FORM  2. 

Noiih  Mams^  Mass.^  October  Wth,  1852. 


EXPLANATION. 

The  Petty-Cash-Book  here 
given  is  a  small  memorandum 
book,  which  lies  in  the  mo- 
ney drawer  where  the  receipts 
for  sales  during  the  day  are 
placed. 

Each  salesman  or  sales- 
woman, coming  to  the  drawer 
to  make  change,  or  to  place 
therein  sums  received,  enters 
in  this  book  the  items  sold. 
Then,  at  night,  the  footing 
must  agree  with  the  amount 
of  money  in  drawer ;  and  this 
sum  is  entered  in  the  Cash- 
Book,  as  the  day's  sales. 

The  left  hand  marginal 
column  is  used  for  the  initials 
of  the  persons  by  whom  the 
goods  were  sold. 

This  book  is  also  used  for 
balancing  the  Cash  account, 
nightly,  which  should  always 
be  done  in  a  retail  business,  to 
avoid  errors. 

Note. — ^Ttae  sales  of  onl  j  two  days  are  hen 
given.  This  iriU  te  sufficient  to  werf  as  a 
sample. 


When  the  business  is  suf- 
ficiently large  to  require  it,  a 
Petty-Cash-Book  may  be  ar- 
ranged and  used,  as  described 
under  Form  6. 


L.  W. 
B.  T.  L. 
8.  A.  J. 

L  W 

B.  T.  L. 

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L.  W. 
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Sewing  Silk  6/,  Thread  4/ 

8  Yds.  Fig'd  Lawn,  0  30/ 

1  Pr.  Kid  Gloves 

Tapes  &  Ribbons 

25  Yds.  Eng.  Thread  Lace,  @  28/ 

10     "    Lisle  Edging  **  80/ 

1       «*    Bobbin  Lace 

12     "    Emb'd  Muslin,         "66/ 

\  lb.  Sewing  Silk, 


I 


(( 


7.00 

8.00 

.15 

6.60 


8.00 


Lace  10/,  Sewing  Silk  4/,  Cord  7/ 
2  Prs.  Lisle  Thread  Gloves,  @  31«/ 
1    *'    Col'dKid 


« 


Oct.  11th  /52.     C.-B. 


Cash  debits,  pr.  C.-B., 
Mdse.  column 
Sundries  " 

Cash  credits,  pr.  C.-B., 
Expenses  column 
Sundries       " 

Balance  Cash  on  hand 


25.87 
1,485.50 

48.00 
1,865.76 


1  Velvet  Mantilla  86.00 

2  Yds.  White  Illusion,  @  32/ J54 

Blk.  Twist  13/,  Edging  22/ 
1  Box  Artificial  Flowers 
Floss  25/,  Twist  15/ 
1  Changeable  Silk  Mantilla 

3  Lace  Capes,  @  4.76 
Artificial  Flowers 

Inserting  30/,  Gloves  56/ 

\  Doi.  Italian  Cravats  @  12.00 

Trimmings 

1  Emb'd  Kobe 
12  Yds.  White  Satin, 
6      "     Col'd  Velvet, 

}  Doi.  Neck  Ties, 
Twist 

2  Lace  Capes, 
2  Prs.  Linen  Gloves, 


6.50 

@  1.25  15.00 

"  8.00  16.00 


<4 


4.76 


@3.50    7.00 
"46       90 


Oct  12th  /52.    C.-B. 


Cash  debits,  pr.  C.-B., 
Mdse.  column 
Sundries  " 

Cash  credits,  pr.  C.-B., 
Expenses  column 
Sundries        " 

Balance  Cash  on  hand 


220 


148.81 
1.435.50 


47.60 
1,866.76 


|]0 
2  40 
2  87 


16  76 
200 
|21 
68 
87 
69 


25  87 


1,460  87 


1,408,76 


6211 


86  64 

35 

50 

40 

18  00 

1425 

',26 

i86 

600 

83 


85  50 

2  87 
09 

7,90 

128^4' 


1,684  81 


1,418 


171 


26 
05^ 


; 


L.F. 


1 
2 
1 


2 
3 
4 


2 
5 


1 
2 


DAY-BOOK,  FORM  2. 

North  Adams^  Mass.^  October  1st,  1852. 


I 


Sundries  To  Stock, 

For  Effects  invested 

Cash,  In  Quincy  Bank 

Bills  Receivable,  Sundry  Notes,  pr.  B.-B. 

Merchandise,  stock  on  hand,  pr.  Inventory 

9th    


Sundries  Dr. 


Merchandise  To  Sundries, 

For  Goods  purchased  by  me,  in  Boston,  pr.  Invoices 

To  Bills  Payable,  Notes  issued,  pr.  B.-B. 

"  Abbott  Lawrence,     invoice  @  6  mos. 
"  Daniel  Webster, 

11th 


<( 


James  Peabody  To  Mdse., 

^  Doz.  Linen  Cambric  Hdkfs. 
1  Blk.  Italian  Cravat 

12th    


@8.50 


Mrs.  Eliza  Anderson    To  Mdse., 
12  Yds.  Mull  Muslin 


@81> 


Wm.  Bates                    To  Mdse.,  pr.  wife, 

2  Yds.  Linen  Lawn  @  65 

10  "    Cambric  Edging  "  25 

16  "          "        Inserting  '♦  34 


8    "    Swiss  " 

1  Velvet  Mantilla 
1  Lace  Cape 

14th 


ti  22 


Expenses  To  Wm.  Bates, 

For  his  Bill  of  Repairs 

16th    


Mrs.  Eliza  Anderson      To  Mdse., 
1  Pr.  Blk.  Kid  Gloves 


(( 


Isaac  Norris  To  Mdse.,  pr.  daughter, 

1  Blk.  Silk  Mantilla 

2  Embroidered  Collars  @  1.122 

(( 


Cash  To  Sundries,  pr.  C.-B., 

To  Bills  Rec,  7th  625.00 

Do.  14th  125.50 

"  Merchandise,  Cash  Sales 


Mdse.  carried  forward 


221 


91050 
1,20000 
389'50 


3,696 


25 


lf75 
50 


Sundries  Cr. 


375 


1 
2 

5 


30 
50 
44 

176 
2500 

450 


1000 


15 
2 

1,091 


7,363 


69 


00 
25 

35 


04 


2,500 


00 


2,23000 
845  50 
620  75 


Mdse.     Cr. 


10 


650 


506 


00 


50 


29 


7,363  04 

— r 


325 


375 


4050 


69 


17  25 


44085 
506-29 

* 

I 


N>     < 


2 


DAY-BOOK,  FOEM  2. 

North  Adams,  Mass.,  October  \&h,  1852. 


L.F. 


1 
1 

5 
2 


Sundries, 
Merchandise, 

Do. 
Barber  T.  Lee, 
Expenses, 


Mdse.  brought  forwwrd 
To  Cash  pr.  C.-B., 

8th  12.50 

9th  1,358.26 

16th 


For  the  mo. 


__    18th 


Barber  T.  Lee  To  Mdse., 

1  Blk.  Italian  Crayat 

.    20th    


5 


Hiram  T.  Owens  To  Mdse.,   pr.  son, 

1  Yd.  Col'd  Silk  Velvet 

1  Pr.  Blk.  Kid  Glovea 

2  *«  Lisle  Thread  "  ®  3^' 

21st 


Isaac  Norris  To  Mdse.,  pr.  wife, 

5  Yds.  Swiss  Muslin  ®  25 

1    ««    Green  Barege 
1  White  Demi  Veil 
1  Blk.        **      " 
1  Fancy  Silk  Scarf 


<c 


Mrs.  Eliza  Anderson      To  Mdse., 

1  Embroidered  Robe 
25th    


3 
2 


Misses  T.  &  M.  Williams  To  Mdse., 

1  Ps.  Blk-  Crape 

8  "    Col'd    *• 
26th 


@8.26 


i 

9 
B 

B 

8 


a 
H 


Profit  &  Loss  To  Bills  Receivable, 

Note  No.  1  is  lost,  the  drawer,  P.  T.  Lamb,  having 

failed. 

cc  


James  Peabody  To  Mdse., 

1  Pr.  Silk  Thread  Gloves 

2  Pongee  Silk  Hdkfs. 
29th     


@1.00 


Hiram  T.  Owens            To  Mdse.,  pr.  wife, 

2  Yds.  Bonnet  Ribboa  ®  ^^ 

8    "    Cap             "  "  IS 
1  Muslin  Cape 


Mdse.  carried  forward 


222 


DAY-BOOK,  FOEM  2. 

North  Adams,  Mass.,  October  29th  1852. 


L.F. 


6 


2 
5 

1 
5 
2 

5 

3 

v/ 

1 
3 


1 
2 
2 


Mdse.  brought  forward 
Hiram  T.  Owens  To  Mdse.,  {continued) 

8  Neck  Ties  @  31' 

2  Prs.  Embroidered  CuflFs  "  56> 

1  Box  Artificial  Flowers 

4  Linen  Cambric  Hdk'fs                                  "45 
. .     30th 


Sundries  Dr. 


Expenses  To  Barber  T.  Lee, 

1  month's  Wages  to  date 


539 
4 

1 
1 


Cash 


To  Wm.  Bates,  I8th 
"  Bills  Rec, 

"        Do.  27th 

"  Isaac  Norris,  28th 

"  Interest,  29th 
"  Merchandise, 


To  Sundries,  pr.  C.-B., 


51.60 
100.00 


Cash  Sales 


Sundries 
Interest, 

Do. 
Barber  T.  Lee, 

Do. 
Merchandise, 
Bills  Payable, 
Expenses, 


To  Cash 
18th 
27th 
18th 
30th 
27th 
29t]^ 


pr.  C.-B., 

.77 
1.77 


20 
1,515 


Sundries  Cr. 


60 
55 
94 
12 

38 
80 


00 
34 


2.00 
10.75 


For  the  mo.. 


Total  Merchandise  Credits 


Mdse.     Cr. 


20 


30 

151 

10 

8 


00 


50 

60 
00 
76 


254 

12!75 
51028 
52040 

69  50 


\ 


3,200,20 


1,11547 


1,863 


87 


3,200 


20 


TRIAL  BALANCE,  LEGER,  FORM  2. 

Dr.  Cr. 


L.F. 

1 

1 

1 

2 

2 
o 

3 
3 
3 
4 
4 
4 
5 
6 
6 


Stock      -     •  - 

Cash   -        -        -        - 

Merchandise  -        -        - 

Bills  Receivable  - 

Bills  Payable  -        -        - 

Expenses     -        -        - 

Interest  -        -        -        - 

Profit  &  Loss 

Abbott  Lawrence    - 

Daniel  Webster    - 

James  Peabody 

Mrs.  Eliza  Anderson    - 

Isaac  Norris    - 

Hiram  T.  Owens  - 

Misses  T.  &  M.  Williams 


53960 


979 


1,314 


4S 


I 


1,86387 


In  closing  this  Leger,  the  Mdtt.  remaining  unsold,  as  pr.  Inventory,  may  be  called  $4,563.89 

JtJtO 


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North  Adams,  M 

November  Ist,  1 

Stock  . 
Cash 

Merchandise 
Bills  Receivable 
Bills  Payable 
Expenses  . 
Interest 

Profit  &  Loss     . 
Abbott  Lawrence  . 
Daniel  Webster 
James  Peabody 
Mrs.  Eliza  Anderson 
Isaac  Norris 
Hiram  T.  Owens 
Misses  T.  &  M.  Will 

If  you  write  up  this  Fo 
the  correctness  of  your 
Balance  Sheet 

E.  M.  LAFOURCADE,  SON  &  CO 

PRACTICAL  FORM.  NO.  3. 

PLAN   FOR  JOURNALIZING  MONTHLY. 


2D 


225 


224 


EXPLANATORY  REMARKS,   FORM  3. 

This  Set  exhibits  a  method  of  keeping  books  known  to  almost  every  experienced 
accountant  as  the  plan  of  "journalizing  monthly."  It  is  designed  for  a  wholesale, 
jobbing  business ;  but  a  similar  form  of  accounts  may  be  used  to  advantage  in  many 
other  kinds  of  business,  by  varying  the  books  of  original  entry  slightly,  as  occasion 
may  demand.  In  manufactories,  in  large  retail  stores,  and  in  houses  doing  a  general 
trading  business,  such  a  form  is  often  used. 

The  important  books  of  original  entry  are  Cash-Book,  Bill-Book,  Sales-Book,  and 
part  of  the  Journal — which  is  used  during  the  month  for  making  such  entries  as  would 
otherwise  require  a  separate  Day-Book.  The  first  three  mentioned  are  journalized 
monthly,  by  which  process  the  various  entries  in  each  to  any  given  account  are  summed 
up  together  in  the  Journal,  and  the  postings  are  made  in  monthly  totals,  instead  of  a 
separate  post  for  every  separate  entry.  These  four  books  (including  the  Journal  only 
so  far  as  it  is  so  used)  are  in  fact  all  Day-Books,  i.  e.  they  all  contain  the  daily  original 
records  of  transactions,  and  are  the  books  which  must  be  relied  upon  for  evidence  in 
courts  of  justice.  Therefore,  the  remarks  made  on  page  111,  as  to  corrections  of  errors 
in  the  Day-Book,  are  equally  applicable  to  each  of  these  books  as  used  in  this  Set,  which 
should  be  so  kept  as  to  be  above  suspicion  of  fraudulent  intent  or  erroneous  result. 

Besides  these,  there  are  various  auxiliary  books  needed,  examples  of  which  have  been 
given,  with  explanations  accompanying  them,  on  pages  170-182. 


CASH-BOOK. 

The  explanation  of  Cash-Book,  Set  VI,  pages  124  and  125,  may  be  taken  almost 
entire  as  the  explanation  of  this  Cash-Book,  substituting  the  word  "Journal"  wherever 
the  word  "  Day-Book"  occurs.  Once  a  week,  or  as  often  as  it  is  wished  to  make  trial 
of  the  correctness  of  the  Cash  account,  the  debit  and  credit  columns  may  be  footed  up. 
and  then  the  amount  of  cash  in  bank  (as  shown  by  the  Check-Book)  and  the  amount  in 
Safe  may  be  placed  in  red  ink  a  little  to  the  left  of  the  credit  footing,  and  if  their  sum 
be  equal  to  the  difference  of  the  cash  columns,  it  proves  the  account  correct.  In  each 
subsequent  testing  of  the  account,  the  last  preceding  footings  of  the  columns  should  be 
included  in  the  additions  made ;  thus  the  gross  amounts  are  carried  forward  until  the 
end  of  the  month. 

BILL-BOOK. 

Bills  Receivable  and  Bills  Payable  are  usually  bound  in  opposite  ends  of  the  same 
book,  styled  Bill-Book.  This  book  is  so  simple,  that  you  will  see  by  inspection  its  utility ; 
and  all  necessary  explanations  are  made  by  the  headings  of  the  "different  columns.  The 
entries  extend  across  two  opposite  pages  of  the  blank  book,  which  together  constitute 
but  one  page,  or  folio,  of  the  Bill-Book.  Other  persons*  notes  to  you  are  entered  in 
this  book  at  the  time  of  their  reception,  and  your  own  notes  to  others  are  entered  at  the 
time  they  are  issued. 

The  amount  of  unpaid  notes  held  by  you  against  others,  as  shown  by  this  book,  must 
agree  at  all  times  with  the  balance  of  Bills  Receivable  account  in  the  Leger ;  and  the 
amount  of  unpaid  notes  outstanding  against  you,  as  here  shown,  must  agree  wi^h  the 
balance  of  Bills  Payable  account  in  the  Leger. 

This,  like  the  Cash-Book,  may  be  a  mere  memorandum  book,  for  keeping  a  correct 
record  of  notes  received  and  issued,  or  it  may  be,  as  it  is  in  this  Set,  an  important  book 
of  original  entry  from  which  to  journalize.  The  total  of  the  Journal  entry  "Bills  Re- 
ceivable To  Sundries"  must  correspond  with  the  gross  amount  of  notes  received ;  and 
the  total  of  the  entry  "  Sundi-ies  To  Bills  Payable"  must  agree  with  the  gross  amount 

of  notes  issued. 

.     226 


SALES-BOOK. 

The  Sales-Book,  like  the  books  already  spoken  of,  is  often  used  as  a  mere  auxiliary. 
But,  in  this  Set,  it  is  one  of  the  main  books  of  original  entry,  and  one  from  which 
Journal  entries  are  made.  All  sales,  both  for  cash  and  on  credit,  are  entered  in  it,  at 
the  time  the  sale  is  made.  At  the  close  of  each  day,  the  sales  for  cash  are  transferred 
to  the  Cash-Book — first  noting  on  a  slip  of  paper  the  amounts  of  the  several  cash  sales, 
adding  them  up,  and  comparing  the  total  with  the  money  actually  received  during  the 
day  for  sales,  which  receipts  should  be  kept  separate  from  the  other  moneys  on  hand  for 
the  purpose  of  this  comparison.  If  any  portion  of  such  receipts  are  deposited  in  bank, 
a  memorandum  can  be  kept  thereof,  and  counted  in  as  so  much  cash ;  so  also  with  any 
other  sums  added  to  or  taken  from  the  same.  The  credit  sales  are  supposed  to  be  at 
six  months,  when  no  mention  is  made  of  the  time. 

Credit  sales  are  extended  into  the  outer  or  right-hand  column,  but  cash-sales  are  kept 
in  the  left-hand  column,  or  if  the  amount  of  an  entry  has  been  extended,  and  subse- 
quently, but  before  the  entry  is  journalized,  it  is  paid,  the  figures  in  the  outer  column 
should  have  lines  drawn  through  them,  so  that  they  will  not  be  included  in  the  footings 
of  the  Sales-Book.  The  credit  sales  are  added  up,  and  the  amount  carried  forward 
from  page  to  page  till  the  end  of  the  month.  This  book  is  journalized  under  the  head- 
ing of  "  Sundries  To  Merchandise,"  and  the  total  credit  to  Merchandise  under  this  head 
must  agree  with  the  final  footing  of  the  Sales-Book. 

NoTK. — TTouses  doint^  a  flifferent  kind  of  buFiness,  can  yary  the  books  of  original  entry,  adopting  such  as  are  most  eonraiieiit,  aai 
itiU  journalize  monthly,  if  dosiniMe. 

ti^  The  diiuidmnUige  of  thi^  Form,  compared  vrith  Form  4,  is,  Uiat  accounts  of  persons  are  seldom  posted  up  readj  fiw 
but  are  generally  nearly,  or  quite,  a  moutli  behindhand. 


JOURNAL 

Transactions  oftentimes  occur  in  the  course  of  business  which  cannot  appropriately  be 
entered  in  the  Cash-Book,  or  Bill-Book,  or  Sales-Book ;  and  for  these  some  have  a  sepa- 
rate Day-Book,  and  journalize  it  monthly  like  the  other  books.  But  I  prefer  using  the 
Journal  as  a  Day-Book  dm*ing  the  month,  and  placing  such  entries  in  it ;  and  then 
posting  them  directly  from  this  first  entry  to  the  Leger.  Purchases  of  goods  on  credit, 
and  such  cash  purchases  as  you  wish  to  have  appear  on  the  Leger,  in  the  account  of  the 
person  from  whom  you  buy,  are  entered  also  originally  in  the  Journal.  The  invoices 
are  kept  on  file  until  the  end  of  the  month,  when  they  are  arranged  in  order,  and  entered 
"  Merchandise  To  Sundries,"  all  the  purchases  of  any  one  man  being  brought  together 
in  one  total  in  making  the  entry,  so  as  to  save  labor  in  posting.  The  remaining  and 
legitimate  use  of  the  Journal  (that  from  which  it  takes  its  name)  is  to  receive  the  entries 
transferred  into  it  monthly  from  the  other  books. 


Directions  for  Writing  up. 


fiank  books  are  prepared  for  this  Set.  and  acoompany  the  treatiise. 

O'luinu-noe  with  the  first  day  of  the  month,  and  by  examining  you  will  find  one  entry  in  the  Journal,  four  in  the  Cash-Book.  one  in 
the  >'ali>ft-l<ook.  and  three  in  the  Bill-Book  on  that  day,  which  you  will  enter  in  the  same  manner  in  your  Journal,  <.^<-h-Book.  Sale*' 
Book,  and  l^ill-ltook — leaving  the  I^eger  fulio  columns  blank,  to  be  tilled  when  you  post.  Next  examine  the  diflerent  books  of  oripiiMd 
entry,  to  see  what  transactions  occur  en  the  seetmd  day,  and  enter  the  same  in  your  books.  After  completing  them,  proceed  wHb  tW 
UttrU  day  in  like  manner.  And  so  on  with  each  succeeding  date;,  recording,  in  the  proper  books,  all  tran.«aotion8  that  take  place  ( 
any  particular  day,  before  making  any  entry  of  the  day  following  it.  This  will  give  an  idea  of  the  exact  process  of  entry  in 
counting-house. 

A I  the  close  of  the  month,  journalize  one  of  the  books  of  orijrinal  entry  entire,  then  a  second,  and  so  on,  until  all  are  joui 
It  makes  no  muterial  dififereace  which  book  is  journalized  lirst.  but  the  Ca^h-lk>ok  is  the  one  here  selecteil.  Commeu(>e  with  tbvdiMk 
side — "Ca^^h  I'd  >undrie8'' — and  enter  the  various  receipts  to  the  credit  of  tlie  proper  accounts,  and  place  together  the  Mfveral  raMS 
rtveived  at  different  times  from  the  same  account,  so  as  to  add  up  and  post  them  in  one  amount  to  the  Leger.  This  renders  it  ntnuwaij 
to  look  over  the  whole  of  the  Cash  debits  carefully  for  each  account  entered,  to  fiud  all  the  receipts  therefrom ;  and.  to  avoid  oniL^noBS 
and  errors,  check  each  sum  in  the  Cash-Book,  as  soon  as  journalized.  To  afford  convenient  reference  from  the  Journal  to  the  Cx-^b- 
Book  at  any  time,  affix  to  each  sum  its  proper  date.  Having  completed  the  debits,  next  journalize  the  credit  side,  saying  "  :>undxie4 
Tot"a>h,"  and  doliitiiiT  all  accounts  for  wliich  p«yinents  have  been  uiiuie  during  the  month. 

Journalize  the  Bill  Book  under  the  headings  "  Bills  Beceivable  To  buudries,"  and  "  Sundries  To  Bills  Payable,*'  checking  the  iteiu 
*s  you  pffK-eed. 

**  Stindrirs  To  Merchandise"  is  the  proper  heading  Ibr  the  Sales-Book. 

Tlie  two  columns  for  dollars  and  cents  are  not  used  to  distinguish  debits  from  credits,  but  the  first  is  for  items,  and  the  aeeood  i^t 
the  extension  of  sums  total. 

Id  pnatiug  the  entries  journnlized.  the  last  day  of  the  month  may  be  uFed  for  the  date  in  the  Leger.  In  opening  the  acroants  in 
this  Lejier,  you  may  observe  the  usual  counting-house  arrangement  of  them,  which  is  to  open  the  accounts  of  fiartners,  property 
•cnouQt^,  and  all  the  general  bui>in«h8  accounts,  in  the  first  part  of  the  Leger,  by  themselves;  and  to  let  all  the  personal  aroMioto 
follow  them.    This  renders  convenient  the  taking  of  Trial  Bidance*  and  other  exhibits  from  the  Leger. 

4^-  Be  particular  to  make  your  own  additioiui,  extensions,  and  other  caloulatiou&,  wherever  they  occur  in  any  of  the  hooka. 

^  "17 


227 


k 


Dr. 


CASH-BOOK,  rOEM  3. 

Cosh. 


1852. 

*~  ■   '    ■"* 

Nov. 

1 

To  Edwin  M.  Lafourcade 

f  Am't  invested 

10,000 

00|/ 

n 

it 

*'  Louis  P.  Lafourcade, 

«        it 

5,000 

00|/ 

u 

it 

"  Chas.  Boutelier,  Jun., 

"        " 

5,000 

OOy/' 

tt 

"  Merchandise, 

Sales  this  day 

37 

oOy/ 

t( 

3 

"        Bo. 

Of  Grayson  &  Co.,  less  Dis.  pr.  eontn             :^;|  . 

357 

40./ 

(I 

4 

"        Do. 

Sales  this  day 

319 

80i/ 

ti 

5 

"        Do. 

t«      «      « 

25 

OOv' 

u 

6 

"        Do. 

U           11           U 

# 

87 

88|/ 

20,777 

58 

u 

8 

"  Samuel  Tillotson, 

On  '^ 

500 

00,/ 

it 

9 

"  Merchandise, 

Sales  this  day 

839 

00|/' 

u 

10 

"  Interest, 

Dis.  on  Bills  Pay.  No.  3,  pr.  contra,  $2,806.84  @  5% 

140 

34 1/ 

« 

11 

"  Bills  Receivable, 

If o.  1,  discounted  by  Durbin,  Paysoa  A  Co. 

562 

50v^ 

it 

12 

"  Merchandise, 

Of  Jacob  Lukens,  Jun.,  less  Dis.  pr.  contra 

216 

OOy/ 

tl 

13 

"        Do. 

Sales  this  day 

6 

30v' 

22,541 

72 

I 

16 

"  Interest, 

Dis.  on  Bills  Pay.  No.  4,  pr.  contra,  $492.50,  for  53 

days 

4 

-V 

tl 

20 

"  Merchandise, 

Sales  this  day 

• 

75 

OOy' 

22,620 

99 

tt 

23 

"  Merchandise, 

Net  Sale  to  Peter  Phelps,  19th  Inst 

180 

OOy/ 

tt 

25 

"  Bills  Receivable, 

No.  7,  discounted  by  Julias  A  George  Lee 

398 

67r/ 

it 

27 

"  Merchandise, 

r 

Sales  this  day 

10 

00|/ 

28,209 

66 

tl 

29 

"  Merchandise, 

Of  Benj.  Loper  A  Co.,  lest  Dis.  pr.  oonM 

408 

00|/ 

It 

it 

*'  Samuel  Tillotson, 

On  % 

500 

OOy' 

it 

tl 

"  Merchandise, 

Sales  this  daj 

40 

oOi/ 

it 

30 

"  Mrs.  Mary  Green, 

InfuU 

7 

MV 

^^^"^ 

1/ 

24,165 

97 

1852. 

Pec. 

1 

To  Balance, 

from  Not.  30th 

10,787 

02 

228 


CASH-BOOK,  FORM  3. 

Casli. 


Or. 


1^52. 

Nov. 

it 

tt 
tt 
tt 
it 
It 


tt 
(I 
u 
it 
it 
it 

tt 


n 
ll 
u 
ti 
it 
it 


tt 
ti 

ti 
ti 
it 
it 


if 
it 

a 
a 


tt 

u 
it 
it 


.  2 
(t 

3 

5 

t( 

6 


8 

9 

it 

10 
11 
12 

13 


15 

16 

18 
it 

20 

it 


tt 

it 

22 
25 
26 
27 


it 
tt 

29 
30 


tt 

it 
it 
(t 


By  Merchandise, 
"  Expenses 
"         Do. 
<*  Interest, 
"  Merchandise, 
«        Do. 
"  Expenses, 


Bo't  of  Isler  A  Co.,  pr.  Invoice 

Store  Fixtures 

Drayage  A  Labor 

Dis.  6  %  on  $357.40,  pr.  contra 

Bo't  of  T.  Lathrop,  pr.  Invoice 

Hoops  for  strapping  boxes 

Cooperage 


tt 


Joseph  Ralston, 
"  Merchandise, 
"  Expenses, 
"  Bills  Payable, 
"  Interest 
Do. 


19,874.13 1  Jig 


18.39 


892.52 


In  Bank 
In  Safe 
On% 

Bo't  of  Le  Brun  A  Bro.,  pr.  Invoice 
Blank  Books  and  Stationery 
No.  3,  discounted  by  us,  pr.  contra 
Dis.  on  Bills  Rec.  No.  1,  pr.  contra,  $562.50  @  5  % 
Dis.  on  Sale  to  Jacob  Lukens,  Jun.,  5lh  inst,  pr.  con- 
tra, $216  @  5  % 

"  Webster  &  Shaw,  Boston,  Paid  their  Draft  on  us  @  sight,  favor  of  Ludlow  A  Co., 

dated  3d  inst 
In  Bank  17,863.40 

In  Safe  121.15 

"  Merchandise,  Bo't  of  Lind  A  Beers,  pr.  Invoice 

"  Bills  Payable,  No.  4,  discounted  by  us,  pr.  contra 

"   Expenses,  Cooperage,  Labor,  Ac. 

"  Louis  P.  Lafourcade,     On  % 

"  Joseph  Ralston,  "  " 

"  Merchandise,  Rec'd  pr. "  City  of  Glasgow,'*  from  Robertson  A  Howell, 

Luton,  Bedfordshire,  Eng.,  an  Invoice  of  Bonnets,  dated  1st  inst,  Am't 
£160  8».  6rf.,  for  which  we  have  remitted  them  a  Bill  of  Exchange,  @  3 
mos.  from  date  of  Invoice,  purchased  of  Ledoux  A  Cornelle,  on  Brown, 
Shipley  A  Co.,  Liverpool,  @  9«  %  Prem, 


}$ir, 


984.55 


"  Merchandise, 
«        Do. 


;}$i5, 


,426.14 


tt 


Expenses, 
"  Interest, 
"  Bouvier  Brothers, 
"  Merchandise, 


Freight  on  above,  and  Shipping  Expenses  in  Eng. 

Dudes  on  £160  8«.  6i.  (@  $4.84  pr.  £)  @  30  % 

In  Bank  16,420.50 

In  Safe  6.64 

Paper  A  Ink 

Dis.  on  Bills  Rec.  No.  7,  pr.  contra,  $398.67  @  5% 

On'^ 

^  Geo.  Parr  A  Co.'s  Bill  of  Exchange  on  Brown,  Shipley 

A  Co.,' Liverpool,  for  £320  17«.,  @  3  mos.  from  8th  inst.,  purchased  @ 
9  %  Prem.,  and  remitted  to  Robertson  A  Howell,  Luton,  Eng.,  for  Invoice 
of  Bonnets,  Plaits,  Ac,  of  same  date  and  time,  Rec'd  pr.  "  Niagara" 
**  Merchandise,  Shipping  Expenses  in  Eng.,  and  Freight 

«  Do.  Duties  on  £320  17».  (@  $4.84  pr.  £)  @  30% 

"  Interest-,  Dis.  on  Sale  to  Benj.  Loper  A  Co.,  26th  inst,  pr.  con- 

tra, $408  @  5  % 
"  Merchandise,  Rec'd  pr.  "  Crescent  City"  from  Havre,  an  Invoice  of 

Swiss  Straw  Plaits,  Laces,  Ac,  dated  Nov.  2d,  Am't  10,176  francs,  for- 
warded to  our  Order  by  Surbridge,  Bro.  A  Co.,  Wohlen,  Switzerland,  for 
which  they  have  drawn  on  our  ^/c,@  ^  mo8.,a8  pr.  instructions,  on  Dela- 
croix A  Co.,  Paris.  We  have  purchased  a  Bill  of  Exchange  of  Ledoux  A 
Cornelle,  on  Delacroix  A  Co.,  and  remitted  to  them  to  cover  the  Am't  of 
their  acceptance  f.10,176,  and  their  Com.  for  accepting  1  %,  £101.76  = 
f.l 0,277.76— Exchange  @  f.4.89  to  the  dollar. 
"  Merchandise,  Transportation  from  Wohlen,  Shipping  Charges  and 

Com.  of  Agent  at  Havre,  and  Freight  on  above  Mdse. 
"  Merchandise,  Duties  on  f.l0,l76  (@  IS^^^Pg^^  pr.  f.)  @  ZO  % 

"   Expenses,  Rent  of  Store  $75,  Wages  of  Clerks  $75 

"   Balance,  In  Bank  %10,719.10,  In  Sa/et61. 92 


4,557 

562 

492 

2 

500 


10  00^/ 


85 
75y 
93{/ 
OOy^ 


34|/ 

50|/ 

Sly/ 


'I 


/ 


24,165»97 


229 


p 


BILL-BOOK,  FORM  3. 


Bills 


^ 


No.  of 
Note. 


1 

2 
3 
4 
5 
6 
7" 
8 
9 
10 


When 
Received. 


1852. 

Nov. 


u 

u 
u 
a 


Drawer 


2 
3 

8 

111 

18 

u 

25 


i  Durbin,  Payson  &  Co. 
Willard,  Brady  &  Co. 
Ourselves 

Decoursey  &  Wise 
Julius  k  George  Lee 

u 


No.  of 
Mote. 


1 

2 
3 
4 
5 
6 
7 
8 
9 
10 


When 
Issued. 


1852. 

Nov. 

a 
li 
a 
^t 
n 
II 
u 


1 

u 

u 

5 

10 

16 

23 

29 

30 


Drawer. 


Ourselves 


In  whoM  IkTor. 


Ourselves 

Accepted  by  Ferree  &  Bro.  in  our  fav. 

Drawer 

Ourselves 


Dnte  of 
Note. 


1852. 

Nov. 

Oct. 
Nov. 

a 
n 
n 
n 
t( 
u 


9 

3 

28 
8 
11 

lb 

(( 

(k 
25 


Time. 


C  mos. 


""-■4'*- * 


0 
0 
G 
4 
6 
8 
5 


«4 
.  44 
44 
44 
4( 
(4 


I 


In  whose  faroi*. 


Drawer  {%  of  I>ufour,  N.  &  Co.) 


Date  of 
Note. 


Dufour,  Nephew  &  Co. 


Margot  &  Haines 

Drawer  (%  of  Dufour,  N.  &  Co.) 


1852. 

Nov. 


Margot  &  Haines 

E.  B.  Bolton 

Accepted  by  us  in  fav.  of  Drawers 


1 

4( 
(4 

5 

10 

16 

23 

29 

29 

30 


Bills 


Time. 


2  mos. 
4    '' 

6    " 
60  dap 

3  mos. 
6    " 

4  '* 
90  day.- 
4  mos. 
3    '^ 


230 


Receivable. 


BILL-BOOK,  FORM  3. 


When  due. 

Where  due. 

s 

i 

s. 

S? 

i 

>» 

Q 

p 

13. 

*i 

S 

6 

Amount. 

Remarks. 

»^ 

u* 

S 

< 

s 

»n 

>-» 

•< 

JS 

o 

» 

o 

Bank  of  Louisiana 

5 

562  50 

y/  Discounted  Nov.  llth 

New  Orleans 

6 

102 

97 

v/ 

(( 

1 

377 

25 

v/ 

« 

10 

377 

25 

v/ 

Bank  of  Louisiana 

14 

259 

65 

y/ 

u 

21 

398 

67 

v/ 

u 

21 

398 

67 

y/  Discounted  Nov.  25tli 

a 

21 

398 

m 

y/ 

Planters'  Bank 

28 

297 

00 

>/ 

(( 

28 

• 

297 

00 

>/ 

3,469 

62 

*" 

• 

Payable, 

.  • 

Wben  due. 

Amount. 

Where  dueb 

s 

A 

^ 

fi 

S? 

a 

a 

to 

9 

r; 

• 

8 

Reaiarb. 

^ 

a 

•< 

^ 

•? 

•-» 

< 

n 

O 

k; 

Bank  of  Louisiana 

4 

2,806  83 

%/ 

44 

4 

2,806  83 

%/ 

« 

4 

2,806  84 

x/  Discounted  Nov.  10th 

Planters'  Bank 

7 

492  50 

i 

v/        "            "    ISth 

44 

13 

65236 

v/ 

^    « 

19 

42210 

v/ 

« 

26 

210'28 

x/ 

C( 

2 

91035 

%/ 

New  Orleans 

1 

71200, 

s/ 

Bank  of  Louisiana 

3 

165175 

%/ 

11,98584 

v^ 

,    .J 

231 


/ 


/ 


r 


SALES-BOOK,  FORM  3. 

New  Orleans,  November  \st,  1852. 


V 


V 


Ferree  &  Brother, 

15  Cases,  180  Prs.  Men's  Stout  Boots 
3        "      180   "        "      Laating  Gaiters 


18  Cooperages 


JJatchez. 
@  2.00 
1.75 
25 


Durbin,  Pay  son  &  Co., 


2d 


(Note  pr.  B.-B.) 


1  Case,    60  Prs.  Men's  Goat  Nullifiers 


S 
2 
1 
2 
2 
1 


(( 


(( 


it 


180 
120 

60 
120 
120 

60 


u 


it 


tt 


Women's  Grain  Buskins 

"         Lasting  \  Gaitcn 

"    Col'd  "  " 

«         Kid  Slippers  R.  R. 
Misses'  Goat  Lace  Boota 

"       R.  R.  Paris  Ties 

12  Cooperages 


Vicksburg. 

@  80 

80 

00 

80 

ro 

75 

62* 

25 


<( 


V 


Paid 


V 


Dolbear  &  Reikert, 

128  Ps.  Straw  Trimmings 
24     "   French  Straw  Lace 
12     "        "     Inserting " 


Memphis,  Tenn. 

(^  50 
1.25 
1.50 
Box  k  Cooperage 


(( 


Cash  Sales, 

50  Scores  Sacramento  Plait 
50      "  "  " 


@27« 
47« 


. 3d 

Willard  Brady  &  Co., 

75    Scores  Rock  Luton  Plait,  No.  4 


(Note  pr.  B.-B.) 


« 


« 


Paid 

less  Die 


100 

8      Maids'  Coburg  Bonnets 
18        "       China  Pearl   " 
12    Women's  "        "       " 
16        "     Goffer'd  Edge  « 


u        u 


u 


5 

2 
1 


S  Cases 
Coop«rage 


Orange  St 
@45 
50 
25 
83 
37« 
S3 
50 


tt 


Paid 


/ 


Paid 


Grayson  &  Co., 

3    Cases,  180  Prs.  Women's  Calf  Lace  Boots 
119  Maids'  Feather  Edge  Bonnets 


4  Cooperages 
1  Case 


Natches. 
@  1.25 
1.10 
25 


Cash  Sales, 

10  Prs.  Men's  Stent  Boott 


4th 


u 


%  1.98 


Dolbear  &  Reikert, 

48  Women's  Cap'd  Bonnets 
48        "        Tulip  " 

50        «        Eng.  Straw « 


Memphis. 
@  1.122 
1.20 
87« 


Box  k  Cooperage 


a 


Jones,  Brother  &  Co., 


(Net) 


4  Cases,  240  Pri.  Women's  Lasting  Gaiter  Boots 


Canal  St. 
%  1.25 


A 


Am't  forward 
232 


860 

315 

4 


48 

144 

108 

48 

84 

90 

37 

3 


00 
00 
50 


00 
00 
00 
00 
00 
00 
50 
00 


64 

30 

18 


13 
23 


00 
00 
00 
75 


75 
75 


37 

33 

50 
o 

5 
4 
5 
1 


225 

130 

1 


50 


75 
00 
00 
94 
50 
28 
00 
50 


00 
90 
00 
50 


19 


54 
57 
18 


300 


80 


00 
60 
75 
75 


00 


679 


50 


562  5u 


112 


<o 


102  97 


mn^ 


13110 


1,588 


82 


SALES-BOOK,  FORM  3. 

New  Orleans,  November  5th,  1852. 


1,588 

82 

^/ 

Samuel  Tillotson, 

Gravier  SL 

10  Cases,  600  Prs.  Women's  Goat  Buskins 

@  LIS 

690 

00 

30  Ladies'  Open  Fancy  Bonnets 

<( 

382 

11 

00 

701 

55 

Paid 

Cash  Sales, 

100  Infants'  China  Pearl  Bonnets 

if 

@25 

25 

00 

^  ^  — f 

Paid 

Jacob  Lukens,  Jun., 

St  Louis  St. 

Pith 

4  Cases,  240  Prs.  Women's  Kid  Slippers  B.  R. 

@  90 

M^9P 

ftfli 

V 

—                              Din 
Morris  L.  Halsey, 

Camp  St 

6  Prs.  Youths'  Stout  Brogans 

@  622 

3 

75 

Paid 

Caleb  Jarden  &  Nephew, 

Jackson  St 

30  Infants'  Diamond  Satin  Bonnets 

@26» 

7 

88 

40  Prs.  Misses'  Goat  Lace  Ties 

Q4k 

•      75 

30 

00 

37 

88 

■    ■              —      olli 

/ 

Ferree  &  Brother, 

Natchez. 

1 

10  Ps.  Swiss  Straw  Cord 

@4.50 

45 

00 

20  Doz.  Tassels 

1.50 

30 

00 

75 

00 

yin 

Paid 

Cash  Sales, 

Carson  k  Co. 

5  Cases,  300  Prs.  Men's  Stout  Brogans 

If 

@  1.10 

330 

00 

Paid 

Cash  Sales, 

20  Scores  Rock  Luton  Plait 

@45 

9 

00 

V 

Mrs.  Mary  Green, 

Calliope  St 

25  Women's  Rock  Luton  Bonnets 

@31» 

rsi 

1 1fl^ 

lltu 

V 

Decoursey  &  Wise,                       .     (Note  pr.  B.-B 

.)     Jackson,  Miss. 

120  Scores  China  Pearl  Plait 

@  15 

18 

00 

■  t 

IgO      "          "         "         " 

25 

40 

00 

19        "      California         « 

17 

3  23 

15          M                «                    a 

35 

6 

25 

12        "      Sacramento      " 

47« 

5 

70 

112       "      Tulip                ** 

26 

29 

12 

180      «      Alboni              « 

81« 

56 

25 

130      «      Bedford            « 

37 

48 

10 

M        "      Fancy  Coburg  " 

60 

25 

00 

' 

10        "      Patent              « 

90 

9 

00 

10        "          "                   " 

1^5 

12 

50 

10        "      Split  Straw       " 

60 

6 

00 

2  Boxes  k 

Cooperage 

1 

50 

259 

65 

Paid 

lt>tn 
Cash  Sales, 

18  Maids'  Triplar  Bonnets 

®  35 

6 

30 

t'^iVi 

1/ 

LOlu 

William  P.  Lewis, 

Market  St 

2  Dob.  Pr.  Straw  Lace,  Kmb'd 

@  6.00 

12|oO 

Am't  forward 

2,648 

58 

2  E                                          233 

/ 


V 


SALES-BOOK,  FORM  3. 

New  Orleans,  November  \Sth,  1852. 


V 


BooU 


Julius  &  George  Lee, 

Cases,  48  Prs.  Men's  Stout 

48    "  "      Kip                 " 

48    "  "      Calf  Pegged 

48    "  "        "     Sewed    " 

240  "  Boys'  Stout  Brogana 

tt      240  "  "     Kip          " 

"      240  "  Women's  Kip  Lace  Boots 

240 "  "        Calf    "        ** 


(Notes  pr.  B.-B,)     Baton  Rouge. 


it 
(I 
« 


ft 


32  Cooperages 


@  1.75 
2.00 
2.50 
3.25 
75 
80 
60 
90 
25 


Paid 
23d 


Paid 


19th 


l/ 


Peter  Phelps, 

20  Do*.  Blond  Straw  Lace 
20  Ps.    Swiss     "      Cord 


(Net) 


Market  St. 
@  4.50 
4.50 


Cash  Sales, 

50  Doz.  Tassels 


20th 


22d 


@  1.50 


Ferree  &  Brother, 

12  Maids'  Feather  Edg«  Bonnets 
50      "      Plain  Straw 


u 


V 


62  Paper  Boxes 


Natchez. 
@  1.03 
622 
3 


25th 


Julius  &  George  Lee,  (Notes  pr.  B.-B.)     Baton  Rouge. 

6  Cases,  72  Prs.  Men's  Calf  Stitched  BooU  @  5.00 

Q     «      72    "        "        "     Sewed        "  3*25 


Paid 
29th 

Paid 


-  26th 


Benjamin  Loper  &  Co., 

8  Cases,  480  Prs.  Women's  Kid  Slippers,  R.  IL 

27th   


Pojdras  St 

(^85 


Cash  Sales, 

12  Prs.  Children's  Calf  Brogana 
a 


(g|37« 


PMd 


Paid 


Samuel  Tillotson, 

15  Cases,  900  Prs.  Misses'  Goat  Lace  Boots 
15     "      900    "         "       R.  R.  Paris  Ties 


Grarier  St 

(3>75 
60 


(( 


Cash  Sales, 

20  Girls'  Diamond  Satin  Bonnets 


®27« 


29th 


Cash  Sales, 

18  Maids'  China  Pearl  Bonnets 
30  Women's  Tulip  " 


1.15 


l/ 


30th 


Benjamin  Loper  &  Co., 

6  Cases,  300  Prs.  Youths'  Stout  Brogans 

5     «      300    "         "       Kip         " 

5     "      300    "    Children's  Calf    " 

2     "      120    "    Women's      "    Lace  Boots 


Poydras  St 

@  62« 
50 

1.25 


Total  Sales  on  time  for  the  month 

234 


11 


84 
96 
120 
156 
180 
192 
144 
216 
8 


00 
00 
00 
00 
00 
00 
00 
00 
00 


2,648 


58 


90 

90 


75 


1,196 


00 
00 


00 


12 

31 


36 
25 

1186 


360 
234 


00 
00 


675 
540 


50 


00 
00 


6 
34 


50 


00 
50 


40 

187 
150 
112 
150 


50 

50 
00 
50 
00 


00 


^5^P00 


4547 


594  00 


^5^00 


1,215  00 


600 


6,299 


00 
05 


JOURNAL,  FORM  3. 

New  Orleans,  November  1st,  1852. 


1  ' 

1 

3 
3 


2 
3 

1 

3 


4 
4 
4 
4 


4 
2 
2 
5 


Merchandise  To  Edwin  M.  Lafourcade, 

Invested,  as  pr.  Invoice 

_  15th  


Joseph  Ralston  To  Dolbear  &  Reikert, 

Order  of  J.  Ralston  on  us,  favor  of  Dolbear  A  Reikert, 

^ 30th  


Expenses 


Wages  for  one  month 


To  Joseph  Ralston, 


u 


Merchandise  To  Sundries, 

Purchases  this  month,  pr.  Invoices. 

To  Dufour,  Nephew  &  Co.,  Notes  @  2,  4  A  6  mos., 

"3  mos., 
"  6 


it 
a 


tt 


u 
it 


u 


tt 
u 
tt 


tt  4 
«  3 


it 
it 
tt 


"  Webster  &  Shaw,  Boston,  Miwa.,  Dran^ 


t( 
(( 


u 
u 


ti 

«r 


tt 


tt 


"  Margot  &  Haines, 


{( 


n 


"  Bouvier  Brothers, 


a 


(( 


4  mos., 
4    " 

Note  @  60  days, 
ti     a   gQ     ti 

2  mos., 

4    «  ' 


"  Lewis  Davis  &  Co., 

"  Jones  &  RiggS,       Lynn,  Mass., 

"  Brainerd  &  Son, 

"  E.  B.  Bolton, 

a     - 


3 
6 

4 

Note  @  4  mos., 


tt 
tt 
tt 


Ist 
10th 
16th 

23d 
30th 

3d 
17th 
25th 

5th 
29th 

13Ui 
26th 

18th 

22d 

29th 
a 


Cash 


To  Edwin  M.  liafourcade, 

"  Louis  P.  Lafourcade, 

"  Charles  Boutelier,  Jun., 

"  Merchandise, 

u  u 

u  u 

u  -          it 

u  u 

tt  tt 

tt  tt 

tt  tt 

tt  tt 

tt  tt 

tt  tt 


To  Sundries, 


/ 


«  Samuel  Tillotson, 


tt 


it 


"  Interest, 


.,v 


tt 


tt 


*'  Bills  Receivable, 


tt 


tt 


"  Mrs.  Mary  Green,  (Sundry  Debtors) 


Receipts  pr.  C.-B. 
1st 

*i 
*i 

2d 

3d 

4th 

5th 

6th 

9th 

12th 

13th 

20th 

23d 

27th 

29th 

it 

8th 
29th 

10th 
16th 

11th 
25th 

30th 


235 


8,420 
652 

210 
165 


725 

556 

1,342 


492 
910 


840 
610 


50 
36 
10 

28 
75 


00 
50 
64 


50 
35 


60 

18 


13,628  34 


25 
65 


00 

00 


37 
357 
319 


50 
40 

80 


9,870  99 


2,624 


14 


1,402:85 

1,45078 

2,13390 
1,84000 
1,445  !80 

712;0O 

2M?hJ14(5 


10,000 
5,000 


00 

uO 


5,000100 


25IOO 

37  88 


339 

216 

6 

75 

180 
10 

408 
40 


500 
500 


00 
00 
30 
00 
00 
00 
00 
50 


140 
4 


562 
398 


00 
00 


34 

27 


50 
67 


2,052 

1,000 

144 

961 


38 

00 

61 

17 
81 


24,165  97 


^*t: 


iii  4k.<Uk.' 


JOURNAL,  FORM  3. 

New  Means,  November  30^^,  1852. 


I      i 


1 

Sundries 

1 

Merchandise^ 

u 

ti 

it 

u 

u 

u 

u 

u 

u 

it 

u 

ti 

tt 

2 

Expenses, 
11 

a 
ti 

ti 

tt 

a 

3 

Joseph  Ralston, 
tt 

2 

Bills  Payable, 

2 

Interest^ 
tt 

tt 

f 

it 

tt 

3 

Webster  &  Shaw, 

1 

Louis  P.  Lafourcade, 

3 

Bouvier  Brothers, 

2 
4 
5 
5 

5 
5 


o 


To  Cash, 


Payments  pr.  C.-6. 

l8t 


it 


9th 
15th 
20th 


M 


M 


27th 
« 

u 
30th 

« 

2d 
tt 

6th 
9th 

18th 
22d 

30th 

8th 
20th 

10th 
16th 

3d 
11th 
12th 
25th 
29th 

13th 
18th 
26th 


30th 


Bills  Receivable  To  Sundries, 

To  Durbin,  Payson  &  Co., 

«  Willard,  Brady  &  Co., 

"  Ferree  &  Brother, 
it  it 

"  Decoursey  &  Wise, 
"  Julius  &  George  Lee, 


tt 
tt 
it 
it 


it 
it 
it 
n 


Bec'd  pr.  B.-B. 
2d 
3d 

8th 

tt 

11th 

18th 
« 

a 

25th 


tt 


Sundries 

Dufour,  Nephew  &  Co., 


tt 

'it 
it 


To  Bills  Payable,       Isaued  pr.  B.-B. 

ist 
<t 

tt 

lOth 


(Entry  eontinaed) 


643 

162 

15 

82 

562 

780 

56 

232 

1,554 

113 

465 

2,101 

186 

571 


50 
94 
00 
10 
00 
74 
75 
94 
34 
50 
87 
79 
40 
12 


30 

12 

3 

14 

2 

150 


00 
25 
50 
25 
75 
75 
00 


5 
10 


00 
00 


2,806 
492 


17 

28 
10 
19 
20 


84 
50 

87 
12 
80 
93 
40 


377 
377 


398 
398 
398 
297 
297 


25 
25 


67 
67 
66 
00 
00 


2,806 
2,806 

2,806 
652 


9,072 


83 

83 
84 
36 


86 


7,528 


99 


213 

15 

3,299 


eo 

00 
34 


9712 

72500 

500  00 

1,000  00 


13,378  95 


562 
102 

754 
259 


1,790 


3,460 


50 
97 

50 
65 


00 
62 


i^= 


JOURNAL,  FORM  3. 

New  Orleans,  November  SOtk,  1852. 


3 


L.F. 


3 

4 


1 

5 


4 

3 

5 
4 

5 
5 
5 
5 
5 


Sundries 

Dufour,  Nephew  &  Co., 


To  Bills  Payable,  (continued) 


tt 
tt 


Margot  &  Haines, 


K 


E.  B.  Bolton, 


16th 

23d 

30th 

5th 
29th 


-    30th 


Sundries 

Ferree  &  Brother, 


To  Merchandise, 


(I 
ft 


2 
1 
1 
1 


Durbin,  Payson  &  Co., 

Dolbear  &  Reikert, 

it 

Willard  Brady  &  Co., 

Samuel  Tillotson, 
ii 

Morris  L.  Halsey, 

Mrs.  Mary  Green, 

Decoursey  &  Wise, 

William  P.  Lewis, 

Julius  &  George  Lee, 
tt 

Benjamin  Loper  &  Co., 


(Sundry  Debtors) 


tt 


(Sundry  Debtors) 


Sales  pr.  S.-B. 

1st 

8th 

22d 

2d 

u 

4th 

3d 

5th 

27th 

6th 
9th 
11th 
15th 
18th 
25th 

30th 


9,072186 
422il0 
210|28 
16575 


492  50 
91035 


9,870  99 

I 
! 

1,402  85 
712  00 


11,985  84 


679150 
75'00 
4547 


11275 
13110 


70155 
1,21500 


79997 
562  50 

243  85 
102  97 


1,196 
594  00 


ti 


Interest  To  Sundries, 

To  Edwin  M.  Lafourcade,  On  Capital  to  Dec.  ist 
"  Louis  P.  Lafourcade,     "       *' 
"  Chas.  Boutelier,  Jun.,  «       *' 


tt 
tt 


tt 
tt 


118 

23  92 
25  00 


TRIAL  BALANCE,  LEGER,  FORM  3.     Nov.  ^Oth,  1852. 

Dr.  Cr. 


ur. 
3 
4 
5 
6 
i 


Dolbear  A  Reikert 

i^aInuel  Tillot<>oa     ...... 

Ferree  &  Brother         ..... 

Sundry  Debtors       ...... 

Bet^jamin  Loper  A  Co.         .... 

Penonal  ^^  baring  balances  due  firm 


JoM-ph  Halfitnn    - 
Welwter  &  f^baw 
Bouvier  Brothers 
Lewis  Davis  A  Co. 
Jones  &  Kiggs 
Brainerd  &  ik>n 


218 

916 

45 

15 

600 


1,796 


85 
55 
47 
76 
00 


62 


Personal  ^^  having  balances  firm  owe    • 


Edwin  M.  Lnfourosde 
Lnuit)  P.  Lafourcade    • 
Charles  Boutelier,  Jun. 
Ca8h     .... 
Merchandise   « 
BillH  Keceivable  • 
hi\U  l>ajaUe  • 
Interest        ... 
Kxpenses 

Pergonal  %^  due  firm 
Personal  %4  firm  owe 


10,787  02 

34.286  36 

2.508:45 


119  57 

278  50 

1,796  62 


49.776  52 


25  00 


1,899 
450 
2,133 
1,840 
1,445 


7.794 


14 

78 
90 
00 
80 


23,746 
4.523 
5^025 


8,686 


7,794  62 


62 


50 


I    4P.77tIo2 


236 


237 


T 


This  Trial  Balance,  it  wifl  be  8C«b, 
H  made  out  in  a  different  mann^ 
from  the  preceding  ones.  It  is  so 
done  to  show  how  personal  accounts, 
which  in  real  business  are  almost 
always  numerous,  may  be  brought 
within  a  sufficiently  small  space,  so 
that  Balance  Sheets  and  similar  ex- 
hibits can  be  easily  made. 

The  third  division,  commeneia^ 
with  the  partners'  names,  is  all  that 
will  be  required  in  making  out  a 
Balance  Sheet,     See  next  page. 


In  closing  this  Leger,  the  Mrr- 
chandiie  remaining  unsold,  as  pr.  In- 
ventory, may  be  called  §36,637.11. 


The  Leger  is  given  in  the  Key 


<  . 


PRINGLE   &   FIELD. 

PRACTICAL  FORM,  NO.  4. 

POSTING  DIRECT  FEOM  VARIOUS  BOOKS  OF  ORIGINAL 

ENTRY. 


\    > 


239 


EXPLANATORY  REMARKS,   FORM  4. 

•  This  Form  is  intended  for  wholesale,  Jobbing,  importing,  or  manufacturing  houses,  and  will  be  found  a  labor 
saving  and  accurate  method  of  keeping  their  accounts. 

The  books  of  original  entry  are  Day-Book,  Cash-Book,  Expense-Cash-Book,  Sales-Book,  and  Bill-Book. 
No  Journal  is  used,  and  posts  are  made  directly  from  each  of  the  books  of  original  entry,  except  the  Ex- 
pense-Cash-Book. The  books  are  so  arranged  that  entries  to  the  accounts  of  indiyiduals  may  be  posted 
daily,  while  most  of  the  property  and  profit  and  loss  accounts,  which  require  numerous  entries,  are  posted 
monthly,  or  at  other  stated  periods. 

A  particular  description  follows  each  book  given,  except  the  description  of  the  Sales-Book,  which  will  be 
seen  below. 

Sufficient  illustrations  of  Letter-Book,  Check-Book,  Time-Book,  or  other  auxiliaries  needed,  have  been 
given  in  the  preceding  portions  of  the  work. 


DIRECTIONS  FOR  WRITING  UP. 

You  will  find  it  of  great  advantage  to  write  up  this  Tona,  which  should  be  done  in  the  following  order,  in  the 
blank  books  which  have  been  prepared  for  the  purpose. 

On  the^r«<  day  of  the  month  by  examining  you  will  find  one  entry  in  the  Day-Book,  and  two  in  the  Cash-Book, 
which  you  will  enter  in  the  same  manner  in  your  Day-Book  and  Cash-Book— leaving  the  Leger  folio  columns  blank, 
to  be  filled  when  you  post.  Next  examine  the  different  books  of  original  entry,  to  see  what  trangactions  occur  on 
the  aecond  day,  and  enter  the  same  in  your  books.  After  completing  them,  proceed  with  the  third  day  in  like 
manner.  And  so  on  with  each  succeeding  date,  recording,  in  the  proper  books,  all  transactions  that  take  place  on 
any  particular  day,  before  making  any  entry  of  the  day  following  iU  This  will  give  an  idea  of  the  exact  process 
of  entry  in  the  counting-house. 

After  writing  up  the  month's  business,  post  from  the  several  books  to  the  Leger  in  the  same  order  as  above 
described,  that  is,  in  order  of  dale.  To  distinguish  to  which  book  of  original  entry  the  folio  in  the  Leger  rpjers, 
all  posts  (except  monthly  total  postings  to  the  property  accounts)  should  be  entered  as  follows,  viz.,  those  Irom 
the  Cash-Book.  "To"  or  "By  Cash;"  from  the  Sales-Book,  "To  Sales;"  from  the  Bill-Book,  "  To  Bills 
Pay."  or  "  By  Bills  Rec. ;"  and  those  from  the  Day-Book  should  be  marked  "  D.-B."  before  the  folio. 

In  opening  the  accounts  in  this  Leger,  you  may  observe  the  usual  counting-house  arrangement  of  them,  which 
is  to  open  the  accounts  of  partners,  property  accounts,  and  all  the  general  business  accounts,  in  the  first  part  of 
the  Leger,  by  themselves  ;  and  let  all  the  personal  accounts  follow  them.  This  renders  convenient  the  taking 
of  Trial  Balances,  and  other  exhibits  from  the  Leger. 

jar  Be  particular  and  make  your  own  additions,  extensions  and  other  colculatioDS,  wherever  they  occur  in  any 
of  the  books. 


SALES-BOOK. 


This  book  is  a  record  in  detail  of  all  faleg,  cash  and  credit.  We  have  supposed  the  credit  sales  to  be  all  at 
six  months,  and  have  therefore  not  mentioned  the  time,  which  should  be  done  if  sales  are  made  at  diflereni 
terms  of  credit.     Posts  may  be  made  daily,  or  at  convenience,  to  the  debit  of  the  parties  purchasing. 

The  sales  for  cash,  as  entered  in  this  book  for  any  given  day,  must  be  summed  up  at  night,  on  a  slip  of  paper, 
and  entered  in  total  in  the  Cash-Book  as  "  Cash  Sales,  This  day,"  which  total  must  also  agree  (m  business) 
with  the  actual  amount  of  cash  received  for  sales  during  the  day.  These  "  Cash  Sales''  must  then  be  marked 
'♦  C.-B."  in  the  Sales-Book,  to  indicate  they  are  transferred  to  the  Cash-Book,  and  "  S.-B."  in  the  Casli-13ook, 
to  show  they  come  from  the  Sales-Book;  and  must  receive  no  debit  post  from  this  book.  They  should  be 
summed  up,  however,  in  the  amount  taken  forward  from  page  to  page,  and  posted  in  total  with  the  other  sales, 
at  the  close  of  the  month,  to  the  credit  of  merchandise.  Thus  the  credit  post  from  this  book  exceeds  the  several 
debit  posts  by  the  amount  sold  for  cash  during  the  month.  But  this  is  offset,  and  an  equilibrium  produced  by 
the  postings  from  the  Cash-Book,  where  the  monthly  dAit  post  to  cash  exceeds  the  several  credits  by  just  the 

same  amount.  ,.     ,  .  .,  •      j  u-j 

If  a  credit  sale  be  ttaid  before  it  has  been  posted,  it  can  be  noted  in  the  margin  as  paid  on  such  a  date,  marKea 
"  C.-B.,"  and  entered  in  the  Cash-Book  as  "  Cash  Sales."— See  entry  of  4th  inst.  .  ^.  .,     ,         ,  c 

When  a  sale  is  made  for  cash,  the  entry  can  be  brought  through  the  account  of  the  individual  on  Leger,  ii 
preferred,  as  in  case  of  S.  C.  Atkinson,  24th  inst.  Sales  for  notes  must  be  debited  the  individual  to  whom  sold 
m  this  book,  and  the  note  credited  to  his  account  in  the  Bill-Book.  «  •      n     l        u-  u      « 

Houses  of  extensive  business  frequently  have  two  Sales-Books,  called  «W  and  even  Sales-Books,  which  aro 
alternately  used  on  the  days  indicated  by  their  titles.  The  object  of  this  is  to  give  the  book-keeper  an  oppor- 
tunity to  post  up  the  books. 


Note.  It  is  the  practice  with  many  Jobbinsr  houses  to  take  notes  of  all  their  customers.  Many  of  these  notes  are  not  wfo 
tiable,  but  are  taken  merely  as  evidence  of  debt.  For  thera  a  separate  Bill-Book  is  kept,  and  they  are  uol  posted  to  iii« 
account  of  Bills  Rec.  in  the  I^ger,  but  the  sale  remains  to  the  debit  of  the  individual  as  if  he  had  given  no  uole,  and  \*  nei 
any  paymenu  are  made,  they  are  passed  to  the  credit  of  his  account,  being  endorsed  on  the  note  as  usuaL 

240 


DAY-BOOK,  FORM  4. 

Philadelphia,  January  \8t,  1853. 


1    L.F. 

1     1 

1 

Merchandise         To  Sundries, 

1 

To  J.  8.  Pringle,                                                            Invested  pr.  Invoice; 

565 

15 

1 

2 
4 

*'   R.  N.  Field,                                                        «           « 

436 

24 

1,001 

39 

■■  ■       uih  

Interest         To  Laflin  and  Stephens, 

For  Int.  on  H.  C.  Corbii's  Note,  No.  3,  Rec'd  of  the;m  this  day,  as  pr. 

B..B.,  in  part  for  Sales  pr.  S.-B. 

48r 

i 

2 

H.  C.  Corbit         To  Sundries, 

1 

1 

To  Bills  Receivable,                                             For  No.  3,  now  due, 

500  (M^ 

f 

2 

"    Interest,                                                                       On  the  above, 

5 

25) 

505  24 

5 

Sundries         To  Brown,  Shipley  &  Co. 

5 

Leaf  &  Morrison,  Manchester,                   For  their  Draft  on  B.,  S.  fc  Co.,  Liver- 
pool, ill  payment  for  Mdse.,  as  pr.  invoice  of  Jan.  2d,  rec'd  this  day, 

Amt.  JE606,  13s.  8d.  (@  4  mos.) 

2,696 

37 

1 

Merchandise,                                        B.,  s.  fc  Co.'s  Com.  0 12  %     9  2  0 

Shipping  Charges  at  Liverpool. 12    4 

Int.  on  Com.  and  Charges,  3  mos. 3    1 

46 

09' 

2,742 

£10    78.  5d. 

01  o» 

46 

2 

Expenses          To  Sundries, 

1 

3 

To  P.  C.  Mortley,                                                            One  month's  wages, 

60  00! 

6 

1 

«   Sam'l  Bartlett,                                                 «      «        « 

30 

00; 

90 

00 

Merchandise         To  Sundries, 

Purchases  this  month,  as  pr.  Inroicei  and  Oash-Book. 

2 

To  Henry  C.  Corbit,                       Part  Cash,  Bal.  Note,  &  3  mos.,     2d. 

11,245  65; 

4 

•«          Do.          Do.                            ®3inos.,                                         13th. 
•*   See,  Brother  &  Co.,              Note  &  4  mos.,                           6th. 

543 

25| 

11,788 

95 

1,545 

5 

«•          Do.               Do.                       Cash,                                                25ih 
*«    Leaf  &  Morrison,                     Manchester,                                    20ih. 

850 

00 

2,395 

25 

Invoice  of  Jan.  2tl,  pr.  "  Thomas  P.  Cope."  £606,  13s.  8d. 

2,696 

37 

5 

«    Downer  &  Stewart,                 New  York— Draft,                       2l8t. 

1,341 

50 

6 

«   C.  W.  Churchman,              &  4  mos.,                                27ih. 

2,563 

75 

6 

««    8.  B.  Rawley,                              Note  od  3  mos.,                                29ih. 

1,260  75 

C.-B. 

"   Cash  Purchases,                   Walsh  &  Co.,                              3d. 

225 

00 

C.-B. 

«     Do.         Do.                              Walsh  &  Co.,                               nth. 

5334I 

C.-B. 

«     Do.          Do.                                 A.  Clark,                                         13th. 

545 

50 

C.-B. 

«     Do.          Do.                                 Walsh  A;  Co.,                                  15ih. 

454 

25 

C.-B. 

"     Do.          Do.                                 Duties  pr.  "Cope,"                         aOth. 

825 

26 

C.-B. 

«     Do.          Do.                                A.  Clark,                                          25ih. 

150 

25 

C.-B. 

«*     Do.          Do.                                Walters*;  Co.,                                    « 

125 

50 

C.-B. 

«*     Do.         Do.              Eich.onNoteNo.  3,  for  goods  pr.«  Cope,"  27th. 

246 

82 

2,625  92 

•      V 

24,672  49 

'I'he  Day-Book  is  used  for  recording  such  transactions  as  cannot  properly  be  entered  in  either  of  the  other 
\  voks  of  original  entry.  Its  form  is  simple,  and  will  be  readily  comprehended  by  those  who  have  fawjUiTiifd 
tlnmselves  with  previous  portions  of  the  work. 

At  the  close  of  the  month,  it  is  also  made  the  receptacle  of  purchases,  which  are  treated  as  follows.  Tfce 
receiving  clerk  examines  the  Invoice  as  the  goods  are  received,  and  if  he  finds  it  correct, marks  ii"Ex'd,'' signing 
hi8  initials  to  show  who  is  responsible  for  its  correctness.  This  being  done,  it  is  placed  on  file,  or  pasted  iu  a 
blank  book  prepared  for  the  purpose,  called  an  Invoice-Book. 

Purchases  oh  lime  are  supposed  to  be  entered  in  the  Day-Book  from  the  original  invoices,  either  as  filed  orpr«- 
served  in  the  Invoice-Book,  taking  care  to  collect  together  all  purchases  fi-om  the  same  person,  that  one  poi«t 
only  need  be  made  to  each  individual's  account  for  the  month. 

*'  Cash  Purchases''  are  taken  from  the  Cash-Book,  where  they  have  been  previotisly  entered  at  the  date  of  the 
occurrence  of  the  transaction.  They  will  be  found  in  the  Cash-Book,  marked  "  D.-B."  by  looking  along  the 
Leger  folio  column.  They  must  be  marked  "  C.-B."  in  the  Day-Book,  and  no  other  post  made  <k  them,  navm 
(he  debit  in  total  to  Merchandise. 

2  F  241 


0 


Dr. 


CASH-BOOK,  FORM  4. 

Cash, 


Date. 


1853. 
Jan.  1 


♦«     3 


L.F. 


*  9 

"  9 

•«  10 

"  11 

"  11 


1 

1 

S.-B. 
S.-B. 

S.-B. 

3 
S.-B. 

S.-B. 

v/ 
S.-B. 

4 


To  J.  8.  Pringle, 
"  R.  N.  Field, 
«  Cash  Sales, 
"    Do.     Do. 


Amt  InTested,' 
This  day, 


<t     <« 


a  14 

"  15 

"  16 

"  17 

»*  18 


"  20 

««  20 

♦•  21 

"  23 


«« 


24 
25 


S.-B. 
S.-B. 
S.-B. 
4 

S.-B. 


4 

4 

S.-B. 

S.-B. 

3 


({ 


Cash  Sales,  Thisday, 

S.  C.  Atkinson,  Rec'don^ 

Cash  Sales,  «««'*»  <>'  P-  O-  0°^*"  *  Co.  for 
Sales  made  them  4th  inBt,  less  Di«.  pr.  contra, 

Cash  Sales,  Thtedaj, 

(i  Interest  Din.  on  Bills  Pay.  No.  2,  pr.  eontra, 

"  Cash  Sales,  Thisday, 

«*  Burgess  &  Walker,  !■  P*rt  for  Sales,  pr.  8.-B, 

♦'  Bills  Receivable,  in  f^ll  *>'  Bl"o'  *  Bumap's  Note, 
No.  1,  due  July  6th,  leai  Dis,  pr.  contra, 


Int  Cr. 


"    27 


"  Cash  Sales, 

"    Do.     Do. 

"    Do.     Do. 

«*  Burgess  &  Walker, 

rage,  Mar.  29tb,  1854.*- 

"  Cash  Sales, 


This  day, 

<t     (<    

<«     <(    

In  fiill  for  BaL  of  tj^  due  pr.  Ato- 


Thisday,- 


"    81 


y/ 


»'  T.  W.  Lakeman  &  Co.  On  ^ 

"  Turner,  Wheelwright  &  Co.  Rec'd  pr.  mail  on  ^ 

«  Cash  Sales,  Thisday, 

"    Do.     Do.  '♦     ♦♦   

«*  S.  C.  Atkinson,  '^'^  ^o'  »*'«»  P'-  ^'^ 

*♦  Interest  Kscount  on  Bill  of  See,  Bro.  t  Co. 

as  pr.  contra, — 


<( 

27 

5 

(< 

27 

S.-B. 

l< 

28 

>/ 

«< 

29 

S.-B. 

<( 

30 

4 

S.-B. 


2 
1 
1 


Feb.  1 


«(  Interest,  Discount  on  Bills  Pay.  No.  S— 
Amt  as  pr.  Contra,  including  Ezch.,  t2,989.28— from  April 
14th  (time  when  our  Pay't  is  considered  Cash  In  England)  to 
May  5th,  (when  Leaf  k  Morrison's  Draft  on  Brown,  Shipley 
k  Co.  matures,)    

"  Cnshing  &  Brother,  1°  ft»»  *>'  %  d«  July  20th, 

««  Cash  Sales,  Thisday, 

•♦  Bills  Receivable,  B«»'d  pr-  mail  on  Miles  k  Bans- 
ford's  Note,  No.  4, 

«'  Cash  Sales,  Thisday, 

"  T.  W.  Lakeman  &  Co.,  In  full  for  Bal.  of  their  ^,  due  pr. 
Average,  Oct.  21st,* 

"  Cash  Sales,  Thisday, 


Interest  Credits  this  month, 
Bills  Rec.     ••        "         " 
Cash  Debits  "         " 


To  Balance 


Bro't  down,. 


80 


90 


B.  RecCr. 


Cash  Dr. 


25 


10 


50 


46 


601 


28 


8,000  00 

8,000  00 

28  00 

1625 


16,04425 
171  65 
400  00 

11900 

689  :t5 

80i»0 

14  00 

100  00 

601,28 

18,120  43 

310  75 

9  00 

65  00 

7124 

257  25 

] 

1 

18,833:67 

50  00 

30000 

150  63 

87  12 

66  86 


400  00 


536  29 
2550 


19,933  21 


1,001 


10  46 
117,10 
244150 

400  00 
1,036  44 

I 

91150 
40'20 


28 


21,87841 


4,61406 


•  In  these  averages  grace  is  added  to  the  sale,  hut  not  to  the  Cash  payment 

242 


CASH-BOOK,   FORM  4. 

Cash. 


Cr. 


Date. 


L.F. 


1853. 

ran.  2 
"  3 
««     4 


it 

"  9 

"  11 

«*  11 

"  11 


"  13 

»«  14 

«*  15 

"  16 

"  17 

"  18 


«  20 
"21 


By 


Henry  C.  Corbit, 
D.-B.   *•  Cash  Purchases, 
^     •«  Expenses, 


3 

%/ 

D.-B, 


D.-B, 

1 
D.-B 

8 

>/ 
y/ 


D.-B. 
5 


"  21    ^ 
**  26  D.-B. 
D.-B. 
4 


Paid  in  part  for  Purchasefs  •  •  • 

Walsh  ACo, 

Paid  pr.  Exp.  C.-B.  this  week,* 


8'275.50 18^290.62 
15.12  J 


"  25 
"  25 

"  25 

"  27 

•*  27 

*i  27 
".27 
"  29 
"  30 


«« 


81 


81 


D.-B. 

6 

>/ 

1 

x/ 
v/ 


2 
2 
1 


In  Bankf 
In  SafCj 

P.  C.  Mortley,  On  ^, 

Interest,  Dificount  5  4^  on  P.  G.  Collins  k  Co.'s 

Bill  of  4th,  as  pr.  contra, 

Bills  Payable,  In  full  for  our  Note  No.  2,  favor 

See,  Brother  k  Co.,  due  May  9th,  less  Discount  pr.  contra,-  •  •  • 

Cash  Purchases,  Walsh  A  Co., 

Interest,  Discount  on  Bills  Rec  No.  1,  pr. 

contra,* 

Expenses,  Pwd  ?'•  Exp-  C.-B.  this  week, 

In  Bank,  8>642.on 

InSa/c  64.21  r'®^^-^ 

Cash  Purchases,  A.  Clark, 

J.  S.  Pringle,  On  ^, 

Cash  Purchases,  Walsh  A  Co, 

P.  C.  Mortley,  On  ^, 

Interest,  Discount  on  B.  A  W.'s  ^,  as  pr. 

contra, 

Expenses,  P*»d  pr.  Exp.  C.-B.  this  week, 

In  Bank,  8,110.501 

In  Safe,  60.84  r'"^"^ 

Cash  Purchases,  Paid  Duties,  $805.70,  and  Freight, 

$19.56  on  Mdse,  pr.  ship  «T.  P.  Cope,"  from  Liverpool, 
Downer  &  Stewart,  Sent  them  this  day,  Benson  A  Co.'s 

Draft  on  Bicknell  A  Co,  New  York, 

Interest,  Paid  %%  Prcm.  on  ahove  Drafl^ 

Cash  Purchases,  A.  Qark, 

Do.  Do.  WaltersACo, 

See,  Brother  &  Co.  Paid  in  fuU  for  Purchases  this  day, 

they  allowing  3^  Discount, • 

Expenses,  Paid  pr.  Exp.  C.-B.  this  week, 

In  Bank,  6'886.21) 

In  Safe,  35.86/ ^'"^'^•"' 

Bills  Payable,  I*»  ^^n  for  our  Note  No.  3,  fiivor 

Brown  A  Bowen,  due  April  5th,  £617,  Is.  Id, 
Cash  Purchases,  Exchange  @  9^  Prem.  on  above 

Note, 

Samuel  Bartlett,  On  ^, 

Interest,  Discount  on  C.  A  B.'6  o^ ,  pr.  contra, 

R,  N.  Field,  .  On^, 

Interest,  Discount  on  T,  W.  L.  &  Cc's  ^ ,  pr. 

contra, • • • 

Expenses,  Paid  pr.  Exp.  C.-B.  this  week, 


By  Balance, 


Expenses  this  month,  pr.  Exp. 
C.-B.  S292.56, 

Interest  Debits  this  month, 

BiUs  Pay.    "       '* 

Cash  Credits        " 

In  Bank,  $4,517.70,  In  Safe,  $96.35 


it 


Int  Dr. 


8 

4k 


95 


64 


12 


B.  Pay.  Dr.    '     CM«  Cr 


68 


40 
03 


37 


72 


\* 


^ 


1,545 


25. 


2,742 


4,287 


46' 


I.- 


28«i;i 


'^ 


«,••-■■> 


12  OU 

t 

1.545  2.> 
53  34 

17|54 
36^ 


^^' 


9,42421 

I 

545^50 

17500 

454,25 

25,U0 

5ll2 

ss;25 


10^6ttS» 


1,841  SaO 

ll68 

15025 

125  50 

i 
85000 
54<i2 


\ 


14,011.14 

2,742  46 

24C82 

16  50 

340 

95  45 


711 


17,259 :5R 
4,614  »»5 


21,873  41 


*  In  calculating  Int  and  Dis.  in  Forms  4  and  6,  the  time  is  reckoned  in  days. 

243 


EXPENSE-CASH-BOOK,  FORM 

Philadelphia^  January  2  J,  1853. 


4. 


186:). 

Jan. 

w 


M 
M 


M 


M 


U 
U 


a 


2 
4 

10 

« 

11 

13 
17 

(t 

18 

20 
21 

23 

«( 

« 

27 

31 

« 

u 
u 


Paid  Store  Fixtures, C.  8im», 

««     1  Ream  Paper,       ........        J-  Elliot, 

**    Drayman, 

Stove  Bill, R-  Simpson, 

Labor, E.  Patrick, 

Advertising, US-  Gazeiie, 

2  Reams  Letter  Paper, J-  Elliot, 

Stationery  Bill, ♦« 

1  Ton  Coal, Peteri-on, 

Painting, Thoroa*, 

Gas  Light  Bill, 

Freight  pr.  **  Ocean,"  from  N.  Y 

Carpentering, O.  Sims, 

Sundry  Bills  for  Labor, 

McCleary's  Bill  for  Drayage, 

Circulars, U-  S.  Gazette, 

Postage,  pr.  Postage-Book, 

Rent  of  Store  to  Feb.  1st 

John  Thomas  for  wages, 

Peter  Baker      «        « 

S.  C.  Martin      "        « .        . 


« 


u 

<( 
« 

to 

U 
U 
M 
M 
M 

l( 


25  00 


25 

1 

10 


13 
60 

00 
50 
00 


u 

M 
M 


Ent'd  on  Cash-Book,  folio  1, 


6,00 
1060 

4  50 
13  25 

2l'25 

3il2 

1260 

11  25 

6|50 

5  loo 
7  56 

80  00 
20!00 


15 
12 


00 
00 


28 


36 


63 


50 


33  25 


54 


62 


139  SA 


292  56 


CASH-BOOK. 

In  this  Book  are  entered,  either  directly  or  through  the  medium  of  the  Sales-Book  and  the  Expense-Cash- 
Book,  all  cath  transactions.  In  posting  from  it,  all  entries  on  the  dthit  side  (except  the  total  Cash  debit)  are 
posted  to  the  credit  of  the  different  accounts  affected,  and  vice  versa. 

In  order  to  save  posts,  two  additional  columns  have  been  introduced  on  each  side  of  the  Cash-Book.  On  the 
dthit  side,  one  column  is  for  Interest  credits  and  one  for  Bills  Eeceitahle  credits.  On  the  credit  side  one  is  for 
Interest  debits  and  one  for  Bills  Payable  debits.     A  glance  at  the  book  uill  show  that  entries,  aflt^tcting  either  of 

these  accounts  for  which  separate  columns  are  introduced,  have  their  amounts  extended  into  <u'o  columns the 

lash  column  and  one  other.  No  posts  are  made  daily  to  Interest,  Bills  Rec,  Bills  Pay.  or  Cash,  but  the  amounts 
extended  to  each  of  these  accounts  must  be  carried  forward  in  the  columns  provided  for  them,  and  posted  in 
total  at  the  close  of  the  month.  Items  to  the  debit  of  Expenses,  as  brought  in  weekly  from  the  Expense- Cash- 
Book,  for  the  balancing  of  the  Cash  account,  may  also  be  passed  over  in  posting,  and  the  total  expenses,  as 
.«hown  by  the  footing  of  the  outer  column  of  the  Expense-Cash-Book,  maybe  entered  in  the  margin  of  this 
Book  at  the  close  of  the  month,  for  the  purpose  of  posting. 

"  Cash-Sales,"  as  explained  in  remarks  on  the  Sales-Book,  are  marked  "S.-B.,"  and  receive  no  post  except  in 
monthly  total  to  the  debit  of  Cash. 

When  Cask  is  paid  out  for  goods  bought — or  for  duties,  exchanee,  freight,  Slc,  where  these  items  of  expenM 
are  properly  a  part  of  the  cost  of  purchase — the  entry  must  be  made  "By  Cosh  Purchases,**  in  thia  book,  and 
marked  "D.-B."  At  the  closeof  the  month,  these  must  be  written  up  in  the  Day-Book  with  other  purchases,  and 
marked  "C.-B."  to  show  they  are  taken  from  the  Cash-Book.  No  post  is  made  to  the  debit  or  credit  of  *'  Ca»h 
Purchases,**  but  an  equilibrium  is  produced  by  including  the  amount  in  the  monthly  d<bit  post  to  Mdse.  ffom 
the  Day-Book,  and  in  the  monthly  credit  post  to  Cash  from  the  Cash-Book;  the  process  being  precisely  similar 
to  that  described  in  the  treatment  ot  "  Cash-Sales." 

Purchases  for  cash  may,  if  preferred,  be  brought  through  the  account  of  the  individual  intheLeger.  See  Ent.  to 
See,  Bro.  &  Co.,  25th  inst. 

Once  a  week,  or  as  often  as  it  is  wished  to  make  trial  of  the  correctness  of  the  Cash  account,  after  bringing  in 
t'le  amount  from  the  Expense-Cash-Book,  the  debit  and  credit  cash  columns  may  be  footed  up,  and  then  the 
aniount  of  cash  in  bank  (as  shown  by  the  Check-Book)  and  the  amount  in  safe  may  be  placed  a  little  to  the 
left  of  the  credit  footing,  and  if  their  sum  be  equal  to  the  difference  of  the  cash  columns,  it  proves  the  account 
ctrrect.     The  entries  may  then  be  continued  on  without  closing  the  book  till  the  end  of  the  minth. 

When  a  Bal.  of  Cash  on  hand  is  brought  down  from  a  preceding  month,  this  balance  must  be  deducted  from 
the  footing  of  the  debit  column,  to  obtain  the  right  amount  for  posting  to  the  debit  of  Cash,  fl'his  may  be  dou« 
in  the  margin. 

Note.    Lb  this  Form  no  Bank  aeconnt  is  kept  in  the  Leger.    Deposits  in  Bank  are  treated  as  Ckak 

EXPENSE-CASH-BOOK. 

This  needs  no  explanation.    It  is  a  small  book  of  expenses  kept  after  the  formula  shown,  and  having  it*  foot 
mss  taken  to  the  Cash-Book  as  often  ae  desirable. 

244 


SALES-BOOK,  FORM  4. 

Philadelphia,  January  2d,  1853. 


L.  F. 
3 


N.  L.  Lippincott  &  Co. 
6  Ps.  Italian  Lustring 


C.-B. 


CB. 


8 


Cash  Sales, 

1  Doz.  Cashmere  Scarfs 


2d 


1.12  )  Second  Sl 

129* 

128'  [648  Braces,  405  Yds.  &  80 

127 

13I«J 


J.  Milton. 


it 


F.  Bates. 


C.-B. 


C.-B. 

d 
CU 

C.-B. 


3 


Elliot  &  Burnap,  (Note  pr.  B.-B.)  Walnut  St. 

5  Ps.  Cashmere  d'Ecose  99  Aunes,  122»  Yds.  &  60 
8    "    Mouseline  de  Laine  195      m        243s     u         qq 

6  "   Super  Gros  d'Afric  396      «       495       a         g2 

3d 

Cash  Sales, 

1  Doz.  Ladies'  Kid  Gloves 

Samuel  C.  Atkinson, 

8  Ps.  Col'd  Gros  de  Levant 
10  "    Bile.  Alpacca 

CoM    Do. 

Olive  French  Merino 

Blk.  Paris  Crape 


a 


Chestnut  St 
118  Aunes,  147»  Yds.  &  90 


20  « 
6  « 
6    « 


320 

610 

200  Aunes,  250 

72 


u 
u 


47« 
45 
75 
40 


M 


Cash  Sales, 

1  Light  Silk  Shawl 


F.  Bates. 


C.-B. 
C-B. 


P.  G.  Collins  &  Co., 

8  Ps.  Fig'd  Alpacca 
2    "    Plaid     Do. 
4  Barege  Shawls 


4th 


Cash  Sales, 

12  Ps.  Irish  Linen 
4     "    Mull  Muslin 


6th 


Market  St. 
248  Yds.  &  30 
60    "  41 

5,00 


S.  Burke. 
144  Yds.  &  80 
48    "  30 


it 


Jos.  Roberts  &  Co., 

6  Pg.  AVhite  Paris  Crape 
8    «    Blue      Do.      Do. 
iO  "   Super  Balzarine 
20  «   Barege 


(Note  pr.  B.-B.) 


Harrisburg. 
60  Yds.  &  45 
96    "  50 

555    «  55 

S^iVfi  371 


u 


Cash  Sales, 

1  Ps.  Blk.  French  Merino 


R.  Bacon. 
42  Aunes,  52»  Yds.  &  72 


Cash  Sales, 

1  Doz.  Elastic  Mitts 


J.  Myers. 


8th 


Turner,  Wheelwright  &  Co. 
10  Light  Silk  Shawls 
14  Barege         Do. 
16  Canhmere    Do. 
10  Brocbea      Do. 
12  Embroidered  Thibet  Shawls 
8   Plain  Do.       Do. 

•     Do.  Do.       Do.  wool  fringe 

7    Do.    Blk.        Do.       Do.     <*        » 


245 


Pittsburg. 

&  10,00 

4,50 

7,50 

12,00 

10.50 

7,50 

4,00 

3.75 


Am*t  forward 


73  50 
12l!88 
405  90 


132|75 
152  00 
274  50 
187  50 
28  80 


74  40 
24|60 
20  00 


115  20 
1440 


27  00 

48  00 

305|25 

331  88 


100  00 

63  00 

120  00 

120  00 

12G00 

60  00 

24  00 

26  25 


324  0 


I 
2800 


60128 


7jS5 


775  5; 

I 

I 
9(00 


I 

I 

119  CO 


129  60 


712  13 


37  80 


425 


639  25 
I    3.187.11 


II  ) 


""  I' 

.'I    I: 


il 


i 


SALES-BOOK.  FORM  4. 

Philadelphia^  January  Wiy  1853. 


TTTT 
C-B. 


C.-B. 
C-B. 


Gash  Sales, 

8    Brochea  Shawls 

16  Embroidered  Thibet  Shawls 

9th 


Bryan  &  Co. 

01O,OU 
9,00 


T 


Cash  Sales, 

30  Ps.  Assorted  Alpacca 


Turner  h.  Bales. 
923  Yds.  &  45 


Cash  Sales, 

1  Ps.  Linen  Cambric 


10th 
11th 


T.  Walker. 


Burgess  &  Walker, 

4    Ps.  Swiss  Maslin 
10   "    Jaconet  Do. 
10   "    French  Lawn 


Lancaster. 

48  Yds.  O  38 
120    «  40 

300    "  35 


13th 


Laflin  &  Stephens         (Corbit's  Note  in  part  pr.  B.-B.) 


Cincinnati. 


20  Ps.  Col'd.  Florence 
50   "    Assorted  Persians 


u 


C-B. 
C-B. 
C-B. 
C-B. 


T.  W.  Lakeman  &  Co. 
12  Cashmere  Scarfs 
20  Barege         Do. 
6    Doz.  Prs.  Black  Kid  Glovea 
4      "       "    Light  Do.     Do. 


1482  Aunes,  1852*  Yds.  &  32 
1650  Braces,  1031 »    "  80 

Spruce  St. 

0  2.50 

2,00 

7,26 

7,00 


14th 


Cash  Sales, 

S  Ps.  Black  Lustring 


578  Braces,  381«  Yds.  &  80 


M 


Cash  Sales, 

3  Ps.  Bandana  li'dk^fs. 


S.  Burton. 
0  7,25 


15th     


Cash  Sales, 

2  Doz.  Prs.  Light  Net  Gloves 

: 16th 


Cash  Sales, 

1  Ps.  Blk.  French  Satin 


G.  Murray. 
62  Aunes,  65  Yds.  &  1,00 


17th 


C-B. 


C-B. 


Cashing  &  Brother, 

6  Ps.  Linen  Cambric 

4  Doz.  Prs.  i  Fing'd  Mitts 

2    «       "    Elastic     Do. 


Chestnut  St. 

72  Yds.  0  1,30 
3,75 
4,25 


18th 


Cash  Sales, 

3  Ps.  Poult  de  Sole 


8.  Evans. 
180  Aunes,  225  Yds.  &  75 


u 


Cash  Sales, 

6  Ps.  Pongee  H'dk'ft. 
1  "    Blk.  Silk  Velvet 


Clark  &  Co. 
0  3,50 
18  Aunes,  22*  Yds.  0  3,00 


20th 


Miles  &  Ransford, 

10  Ps.  Shusan 

10   "    Crape  de  Laine 

0     "  Green  French  Merino 

6     «  Drab       Do.        Do. 

6     "  Blk.  Englis~h       Do. 


(Note  pr.  B.-B.) 


Columbus,  O. 

330  Yds.  0  20 

270  Aunes,  337*  «         28 

236      "       295     «  65 

176      «       220     "  72» 

•    164      "        205     «  60 

Ain*t  forward 


80  00 


144 


0» 


18 

48 

105 


3,387 
224 

415 
14 


692 

206 


24 
00 
00 


80 
25 


246 


30 
40 
43 

28 


00 
00 
50 
00 


93  60 

1500 

850 


21  00 
67  50 


66  00 

94  50 

191  75 

159  50 

102  5 


;3 


11 

00 
35 

00 


171 


799 


24 


05 


14150 


289 


21 


9 


00 


75 


00 


65  00 


117 


168 


10 


75 


88  50 


61425 


ti  6,525|60 


SALES-BOOK,  FORM  4. 

Philadelphia,  January  ^Ist,  1853. 


L.  R 

6,525  60 

C-B. 

Cash  Sales, 

T.  Walker. 

3  Ps.  Fig'd  Gros  de  Nap. 

189  Yds.  0  67 

126  63 

1  Doz.  Barege  Scarfs 

'>Or1 

24 

00 

150 

6 

ZtUx      — 

5 

Wm.  Chapman,                  (Note  pr.  B.-R 

Canton,  O. 

2    Ps.  CoPd  Poult  de  Soie 

134  Aunes,  155  Yds.  0  75 

116 

25 

15  «    Pongee  H'dk'fs. 

3,50 

52 

50i 

10   «    Choppas  Do. 

oq  J       

6,00 

60 

oo| 

228 

75 

*o(x 

C-B. 

Cash  Sales, 

4  Ps.  Crape  de  Laine 

Ail.U 

114»  Aunes,  142«  Yds.  0  26 

37 

IS 

3 

Samuel  C.  Atkinson, 

4  Ps.  Blk.  Satin  Vesting 
4   "  Fig'd  Gros  de  Nap. 

ti'tua.    — 

Chestnut  St 

112'  Metres,  121*  Yds.  0  2,75 
256  Aunes,  320      '*             72 

334 
230 

12 
40 

62 

564 

• 

Discounted  5  ^fot  cash 

28 

231 

536 

S9 

•(./la 

C-B. 

Cash  Sales, 

• 

L.  M.  Oviatt. 

4  Ps.  Col'd  Marcelline 

240  Aunes,  300  Yds.  0  46 

144 

ool 

0 

C-B. 

3    "   Blk.  Bombazine 

M                       m— 

68      «         77»  "        1,00 

77 

50 

221 

50 

Cash  Sales, 

B.  Wesley. 

4  Ps.  Blk.  Crape 

OQtVt        — 

23 

00 

«ola     "^ 

3 

N.  L.  Lippincott  &  Co., 

Second  St. 

3  Ps.  Blk.  Silk  Velvet 

66  Aunes,  TO  Yds.  0  3,15 

22050 

2   "     ««        «    Serge 

oofh 

204      «      255    "          1.00 

255  00 

475 

50 

C-B. 

Cash  Sales, 

<69lQ       — 

E.  Ely. 

3  Ps.  German  Merino 

133*  Yds.  0  80 

107'00| 

4  "    Col'd  Fig'd  Gros  de  Levant 

243  Aunes,  310      «       1,00 

310|00| 

6 

7  "       «      Marcelline 

576      «          44 

253 

44 

670 

44 

Aiken  &  Ransford, 

Seventh  Su 

C-B. 

2  Ps.  Blk.  French  Satin 

u 

112  Aunes,  140  Yds.  0  1,10 

IM 

00 

Cash  Sales, 

Binney  &  Co. 

6  Ps.  Col'd  Fig'd  Alpacca 

165  Yds.  0  40 

66  00| 

C-B. 

1   "        "      Gros  de  Levant 

tt           .»_ 

60  Aunes,   75    «       1,00 

75  00 

141 

00 

Cash  Sales, 

J.  Emm. 

5  Ps.  Blk.  Silk  Vesting 

0|c»       

90  Aunes,  112«  Yds.  0  2,00 

225 

00 

OlSl 

6 

Welty  &  Martin, 

15  Doz.  Blk.  Italian  CravaU 

Broad  St. 

Dot.!.             t.             6. 

0  $12,       15,       18, 

225 

00 
00 

C-B. 

2   lbs.  Blue  Blk.  Italian  Sewings 

0S12 

24 

249 

Utf 

Cash  Sales, 

6  Thibet  Shawls 

« 

0  6,70 

40 

21* 

or 

1 

1                               Total  month's  Sales 

posted  to  Credit  of  Mdse. 

1     I 

i    9.678 

247 


^"^m 


'» 

J  V 


BILL-BOOK,  FORM  4. 


Bills 

No.of 
Note. 

When 
Rec'd. 

To  Credit  of  whom. 

• 

Drawer. 

In  whose  favor. 

For  what  rec'd. 

Date  of 
Note. 

1 
2 

3 

4 
5 

Jan. 

M 

<i 

<« 

L 
2 
6 

13 

20 

22 

Elliot  A  Burnap 
J.  Roberts  &  Co. 

Laflin  ic  Stephens 

Miles  &  Ransford 
Wm.  Chapman 

8 
8 

4 

6 
5 

1 

Elliot  &  Burnap 
Ourselves  on  J.  R.  dc  Co. 

H.  C.  Corbit 

Miles  and  Ransford 
Wm.  Chapman 

Debit  total  Bills  Rec'd 

Ourselves 
Ourselves 

Laflin  &.  Stephens 

Ourselves 
Ourselves 

this  month    .    . 

Mdse. 

M 

U 

u 
u 

•            •            • 

Ih53 

Jan. 
it 

1852. 

Nov. 

1^63. 

Jan. 

• 

2 
6 

16 

20 
22 

• 

• 

Bilk 


No.of 
Note 


2 
3 


Jan. 


When 
Issued. 


185a 


« 


u 


6 
20 

29 


To  Debit  of  whom. 


H.  C.  Corbit 

See,  Bro.  &  Co. 
Brown,  Shipley  & 
Co.,  Liverpool 
S.  B.  Rawley 


4 
5 

6 
2 


Drawer. 


Ourselves 

Ourselves 

Brown,   Shipley   &.  Co. 

on  ourselves 
Ourselves 

Credit  total  Bills  Issued 


In  whose  favor. 


H.  C.  Corbit 

See,  Bro.  &  Co. 
Brown  &.  Bowen 

8.  B.  Rawley 

this  month    .    . 


For  what  ^veu. 


Mdse. 


u 


Account  of 
B.  Shipley  «&  Co 
Mdse. 


1^53. 

Jan. 


Date  of 
Note. 


u 


u 


6 
3 

29 


BILL-BOOK. 

A  moment's  inspection  will  show  that  the  entries  in  this  book  extend  across  two  opposite  pages,  which 
together  constitute  but  one  page,  or  folio,  of  the  Bill-Book.  When  the  note  to  be  entered  is  an  accepted 
draft,  both  the  drawer  and  drawee  may  be  mentioned  in  the  column  headed  "  Drawer,"  as  in  Bills  Rec 
entry  of  6th  inst.,  and  Bi!  a  Pay.  of  20lh  inst. 

Bills  Rec.  are  entered  in  the  Bill-Book  at  the  time  of  their  reception.  They  are  posted  to  the  credit 
of  individuals  daily,  or  at  convenience,  and  to  the  debit  of  Bills  Receivable  account  in  monthly  totals. 
Bills  Pay.  are  entered  in  the  Bill-Book  when  issued.  They  are  posted  to  the  debit  of  individuals  daily, 
and  to  the  credit  of  Bills  Payable  account  in  monthly  totals. 

Bills  Payable  and  Bills  Receivable  usually  occupy  opposite  ends  of  the  same  book. 


REMARKS  ON  THE  PRIVATE  LEGER. 


Ijouses  frequently  find  it  desirable  to  keep  from  public  o1pi||)ion  the  amount  of  their 
capital  and  by  whom  invested,  their  gains  and  losses  in  business,  ^<^.  For  this  purpose 
sane  have  a  Private  Leger,  in  which  they  keep  the  partners'  accounts.  Merchandise,  Profit 
and  Loss,  Interest,  and  such  other  gaining  and  losing  accounts  ^s  they  tHw  proper,  and  some- 
limes,  also,  the  accounts  of  the  diflferent  clerks  employed.  'm^ 

In  connection  with  this  Leger,  a  Private  Day-Book  is  usually  kept,  |i  which  entries  on 
opening  the  books,  entries  for  interest  on  capital  invested,  foi^ealaries,  &c.,  are  made. 

Those  who  wish  to  make  use  of  this  Leger  will  find  the  plan  of  posting  from  the  books  of 
orio-inal  entry,  pursued  in  Form  3,  very  convenient  for  so  doing.  Entries  in  any  of  the  books 
of  original  entry,  (Private  Day-Book  included,)  either  to  the  debit  or  credit  of  accounts  kept  in 
the  Private  Leger,  must  be  posted  to  this  Leger,  and  all  other  entries  must  be  posted  to  their 
proper  accounts  in  the  main  Leger.  Thus  the  two  Legers  contain  the  same  matter  usually 
embraced  in  one,  and  may  be  considered  as  constituting  strictly  but  one,  although  bound  in  two 
covers;  and  Trial  Balances,  Balance  Sheets,  and  other  Leger  exhibits,  must  contain  the 
accounts  in  both. 

248 


BILL-BOOK,  FORM  4 


Beceivable, 


Time. 

Where  due. 

When  due. 

Amount. 

Remarks. 

i 

• 
• 

18 

• 
• 

• 

i 

X 

x_ 

1 

M 

i 

I 

i 

i_ 

6  mos. 
6  mos. 

60  d's. 

6  mos. 
6  mos. 

•             • 

Philadelphia 
Bank  of  N.  America 

Philadelphia 

M 

u 
.            •            •            • 

5 
9 

• 

23 
25 

*• 

60128 
712  13 

500  00 

614  25 

228  75 

Discounted  Jan.  11th. 

C  Int  from  date, 

\  Charged  Corbit  on  the  18th. 

Rec'd  Jan.  28th,  HOC. 

2,65641 

1 

Fayable, 


Time. 

Where  duey 

When  due. 

Amount 

• 

• 
a 

• 

a 

%^l 

i 

• 

• 
• 

• 

<_3.  1 

1 

i 

3  mos. 

4  mos. 
3  mos. 

3  mos. 

Bank  of  N.  America 

Philadelphia 
Philadelphia 

Philadelphia  Bank 

.        •        •        • 

s 

• 

5 

• 
• 

• 

9 

• 

2 

• 

3,745 

1,545 
2,742 

1.260 

65 

25 
46 

75 
11 

C  Purchases  $11,245  65 
^Cash               7,.500  00 
Discounted  Jan.  9th. 
£617  Is.  Id. 
Discounted  Jan.  27th. 

9,294 

• 

1 

1 

1 

TRIAL  BALANCE,  LEGER,  FORM  4 


3 
3 
4 
4 
6 
G 


3 

6 
6 


1 

1 
1 
1 
1 
2 
2 
2 


N.  L.  Lippincott  &  Co. 

S.  C.  Atkinson  .... 

Turner,  Wheelwright  &  Co. 

Laflin  &  Stephens     .... 

Aiken  &  Ransford        .         .         .         . 

Welly  &  Martin        .... 

Personal  ^  having  balances  due  firm 

11.  C.  Corbit 

P.  C.  Mortley 

Samuel  Bartlett  .         •         •         •         . 
C.  W.  Churchman     .... 

Pergonal  ^  having  balances  firm  owe 


J.  S.  Pringle        . 
R.  N.  Field       . 
Cash    .         .         , 
Merchandise    .         . 
Bills  Receivable  . 
Bills  Payable  .         . 
Interest        .         . 
Expenses  .         . 

Personal  '^.j  due  firm 
Personal  ^^j  firm  owe 


799I5O 
37555 
33925 
294  22 
154  00 
24900 


2,211  52 


4,614 
16,041 


05 
94 


1,15513 


382  56 
2,211i52 


24,405 120 


88 

23 

13 

2,563 


05 
00 
50 
75 


2,638;30 


8,390  15 
8,34079 


5,006  40 
29  56 


2,638  30 


24,405  20 


2G 


249 


This  Trial  Balance  is  iiuui« 
out  iu  the  same  manner  as  ikft 
Trial  Balance  to  Form  3,  ana 
for  the  reasons  there  given. 


In  closing  this  LegcT,  tV« 
Mdne.  remain ing  UHtoldy  as  |*r. 
Inventory,  may  be  cadlctl 
$18,2J0.25. 


The  Leger  and  Balauce  Sheet 
are  given  in  the  Key. 


I 


i 

ti 

bi> 

a 

o 
v 

(A 

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52  £  o 


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«  ^  p   s  .OJ 

«2  £  -i  "^  ^^ 


£  S  g 

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3 


'««H       M      to 


§11 


II 


JAMES  DUNLAP  &  CO. 

PEACTICAL  FORM, 

No.  6. 

The  main  features  of  this  form  are  taken  from  the  practice  of  one  of  the  largest 
commission  houses  in  the  city  of  Philadelphia. 

Great  care  has  been  bestowed  upon  its  arrangement,  to  make  it  acceptable  and  useful 
to  those  for  whom  it  is  particularly  intended,  and  it  is  confidently  believed  that  commis- 
sion-and  company  speculating  houses  will  find  it  better  adaptefl  in  its  general  arrange- 
ment, and  more  accurate  in  detail,  for  their  business,  than  any  thing  before  in  print. 

A  mode  of  connecting  wholesale  merchandising  with  commission  operations,  is  also 
illustrated,  by  which  Sales  for  account  of  Merchandise  are  treated  the  same  as  Sales  for 
account  of  a  Consignor, 

A  particular  description  of  each  book  will  be  found  immediately  following  it. 

Posts  are  made  from  the  Cash-Book,  Sales-Book,  and  Journal. 


DIRECTIONS  FOR  WRITING  UP. 

Blanlb  books  have  been  prepared  for  this  Form  also. 

In  writing  up  this  Form,  first  take  the  Cash-Book,  Sales-Book,  Journal,  Receiving- 
Book  and  Expense-Cash-Book,  and  make  entries  in  them  severally  and  successively  m 
order  of  date,  as  explained  in  directions  to  Form  4. 

Having  completed  them  all,  (except  the  entry  of  31st,  "By  Charges,"  on  the  credit 
side  of  Cash-Book,  and  the  last  entry  in  Journal — which  you  will  leave  for  the  present,) 
transfer  the  sales,  as  shown  in  your  Sales-Book,  to  the  different  "  Sales  for  account  of* 
consignors  in  the  Account-Sales-Book.  This  process  is  entirely  similar  to  posting.  Next 
enter,  underneath  each  Account-Sales,  the  charges  as  found  in  the  Receiving-Book — 
also  the  postage  as  supposed  to  come  from  the  Postage-Book— and  calculate  for  yourself 
the  interest,  commission,  and  guarantee. 

Then  journalize  the  Account-Sales-Book,  which  will  complete  the  Journal.  Lastly, 
add  together  the  items  of  interest  in  the  several  Account-Sales,  and  enter  the  total  in  the 
Cash-Book  "  By  Charges" — also  bring  in  the  expenses  from  the  Expense-Cash-Book. 

When  the  books  have  all  been  prepared,  post  the  Sales-Book  to  the  Sales-Leger  ;* 
and  then  post  all  other  entries  from  the  Cash-Book  and  Journal,  in  order  of  date. 

NoTT.— Some  prefer  to  have  the  Bill-Book  prepared  with  twelve  divisions,  one  for  each  month  in  the  year,  and  marked  vpoo  th* 
5uti'r  edge  of  the  lenves.  similar  tn  the  Alphabet  of  a  Leger.  Then,  whenever  a  bill  is  to  be  entered,  place  it  in  that  divi-ion  aurlMd 
with  the  month  in  which  it  fall-!  due.  iJy  thb  arrangement,  a  ready  reference  can  at  all  times  be  h.id  for  awertaining  what  bills  CiL 
due  iu  any  month,    if  more  bills  usually  fall  due  in  oue  month  than  another,  let  the  divLfion  for  that  month  be  the  UriresL 

•  See  remarks  on  Legers,  page  26L 

£31 


? 


1 


Dr. 


CASH-BOOK,  FORM  6. 

Cash,  Notes  and  Interest. 


Date. 


1853. 

Mar. 

ti 

t( 
ii 

(( 

u 

M 

a 
u 


M 
M 


M 


M 


I..F 


1 

ti 

t( 

10 

11 

14 
17 
24 

it 

if 

29 

u 

30 
31 


1 
1 
1 
4 


Capital  invpsted 


i< 
i< 


4 
5 

v/ 

4 
4 

v/ 

4 


Apr. 


tt 


ti 


it 


tt 


To  J.  Dunlap, 
"  S.  Robinson, 
"  T.  W.  Welch, 
"  B.  Warner  &  Co.,  Their  note  for  sales,  due  July 

13th,  No.  1, 

"  E.  Jones,  His  check  on  Phila.  B*k  for 

sales 
"  J.  Thompson,         Rec'd  for  salet 
"  J.  Lapsley  &  Co.,     «       *♦     " 
"  Bills  Recei>able,  Rec'd  in  full  for  note  No.  1, 

due  July  1 3th,  Ara't  $1420 
"  J.  Thompson,         His  note  for  sales,  due  Sept. 

27th,  No.  2, 

"  Shepherd  &  Co.,  In  full  for  ^,  due  July  15th, 

Am't  3,068 
"  Cash,  Paid  note  No.  1  and  Int,  pr. 

contra, 
it  Do.,  "       «    «    5     «     M 

"  J.  Smith,  For  note  in  fiill  for  ^,  due 

July  1 8th,  No.  3, 

"  B.  Warner  &  Co.,  Their  note  for  sales,  due  Aug. 

3d,  No.  4, 


2 
2 
2 
1 


Interest  debits  this  month 
Bills  Rec, 
Bills  Pay., 
Cash 


t« 


u 


tt 


t< 


u 


To  Bal.  from  Old  % 


Int.  Dr. 


H.  Rec.  Dr. 


26 


1,420 


57 

14 
4 


27 


7» 

41) 
6(^ 


B.  Pay.  Dr 


00 


607 


00 


103 


20 


2.474 
219 


72 
83 


4,721 


55 


3,621 

1,860 


69 
04 


5,487 


Cash  Dr. 


3,000  00 

3,000  00 
3,06000 


1,53575 
2,06175 
1,89525 


1,393  73 


3,010,22 


73 


18,89670 


*6,518;52 


CASH-BOOK,  FORM  6. 

Cash,  Notes  and  Interest. 


Cr. 


Date. 

L.F. 

Int.  Cr.  1 

B.  Rec.  Cr. 

B.  Pay.  Cr. 

CashCr. 

165i. 

Mar. 

5 

1 

By  Charges,                  •  Our  bond  for  duties  on 
Mdse.,  due  Apr.  7th,  with  Int.,             No.  1, 

3,621 

69 

u 

it 

2 

»*  Levering  &Bache,  Bill  of  exchange  on  Barings 
&  Co.,  London,  for  £900,  Bo't  of  Clark  & 

Co.,  and  sent  them  this  day 

4,000<» 

it 

t« 

1 

"  Merchandise,           -J-  Premium  on  the  above  bUl 

@9^  fo 

370 

00 

tt 

14 

1 

"  Charges                      •  Our  bond  for  duties  on 
Sharpless  &  Co.'8  cons'L,  due  Apr.  16th,  with 

Int,                                                        No.  2, 

1,866  04 

(f 

24 

v/ 

"  Cash  and  Int.,         Rec*d  on  note  No.  1,  pr. 
contra 

1,420 

00 

it 

25 

2 

"  Sharpless  &  Co.,     Paid  at  sight  their  bill  of 
exchange  on  us  at  10  days'  sight,  S.  C.  Mor- 
ton's favor,  for  $3,000 

6 

50 

2,993 

50 

k» 

29 

v/ 

"  Bills  Pay.  and  Int.,  Paid  note  No.  1,  dat^^d  5th 
inst. 

3,636 

18 

ti 

tt 

v/ 

»»    Do.               Do.          ««         «    «   2,     «     14th 

1370 

70 

ii 

31 

1 

"  Charges,                    For   am't  of  Int   credited 
charges  in  Ac't-Soles  rendered  this  day,  pr.Ac't 
8.-B. 

5 

89 

t 

it 

1 

»*    Do.                           Paid  as  pr.  Expense  C.-B., 
this  month 

345 

30 

M 

it 

3 

"  Store  Expenses,       «        «        «          « 

162J50 

M 

it 
it 

ti 
.*« 

2 
2 
2 

1 

Interest  credits  this  month 
Bills  Rec.             «         " 
Bills  Pay.            "        " 
Cash                    •*        •« 

12 

39 

00 

Ti 

( 

1,420 

M 

5,487 

i* 

13,37818 

M 

it 

By  Balance  on  handf  to  New  % 

5,518 

52 
70 

jl8396 

1 

. 

1 

r  * 

1 

1 

1 

The  object  of  entering  notes  and  interest  in  this  book,  in  preference  to  the  Journal,  ts 
twofold,— first,  they  are  most  frequently  connected  with  cash  entries,  and  second,  in  this 
book  we  are  enabled,  by  appropriating  a  set  of  columns  for  all  cash,  bills  and  interest 
entries,  to  post  in  weekly  or  monthly  totals  to  these  accounts,  while  the  other  accounts 
which  balance  these  columns  are  posted  daily,  or  as  often  as  we  choose. 

When  either  Cash,  Bills  Payable,  Bills  Receivable,  or  Interest  are  debtor  and  some  ot 
them  also  creditor  in  the  same  transaction,  the  entry  may  be  made  on  botk  sides  ot  the 
book,  for  the  purpose  of  bringing  into  columns  all  the  sums  entered  to  these  accounts— as 
seen  in  entries  of  24th  and  29th.     Then,  in  posting  the  individual  /terns  of  the  book 
those  accounts  found  debited  or  credited,  which  have  columns  appropriated  for  them,  must 

be  checked  and  passed  over.  ,   .      ,  ^  ^    x.         ^    i  ** 

The  footing  of  each  of  the  several  columns  this  month  is  the  amount  to  be  posted  .« 

252 


the  debit  or  credit  of  the  account  shown  by  the  heading;  but  the  footing  of  the  "  Cash 
debit"  column  of  the  next  month  will  be  too  large  by  the  amount  of  the  balance  brought 
down,  which  sum  will  need  to  be  deducted  from  it  to  obtain  the  amount  for  postino". 

The  entries  from  the  Expense-Cash-Book  may  be  made  at  any  time ;  and  the  cash 
account  then  proved  by  footing  up  the  cash  columns,  and  minuting  opposite  the  footings 
their  difference,  or  the  balance  on  hand,  after  the  manner  shown  in  Cash-Book,  Form  4. 

Those  who  prefer  to  do  so,  can  substitute  the  Cash-Book  of  Form  4,  instead  of  this ;  or 
may  use  a  simple  one  column  Cash-Book,  and  enter  bills  and  interest  in  the  Journal. 

*  By  law  of  Aagntt,  1842,  duties  are  required  to  be  paid  In  casli,  bat  these  bonds  with  interest  are  tntrodoced  here  to  soow  » 
Taripty  of  entries. 

t  This  premium  is  pasted  to  the  debit  of  Merchandise,  because  the  sum  paid  is  strictly  a  part  of  ths  cost  •f  goods  purchMC^  of 
'«»eriug  k.  Bache.  . 

253 


Ll^; 


SALES-BOOK,  FORM  6. 

Philadelphia,  March  3d,  1853. 


gnrr 
4 


4 


4 
^/ 

v/ 
v/ 
v/ 
v/ 


4 


4 


4 
v/ 


Coniignor. 


C.  D. 

(I 

P.  K. 

n. 


John  Smith, 

B  476  1  Caae  Prints, 

B  466  anJ  468.  2  Bales  Drillings, 
c  111  and  112.  2  "  Tickings, 
c  113  and  114.  2     «     Extra  Do., 


Market  St. 


8  m. 
1,000  Yds.  ®     10 
900    "     «     12 

900  "   «   n 

850     "     •»     20 


E.D.&O. 

u 
p.  K. 


4tb^ 


100  00 
108,00 
15300 

no'oo! 


C.  D. 


Coaies  St. 
1  Case  Satinets, 
1     «         Do., 
1     «     Cassimeres, 
1     "     Ribb'd  Do., 
c  115  and  116.  2  Bales  Tickings, 
c  117  and  120.  2     «        Do., 
B  467  1     "     Check  Cottons, 


E.  Jones, 

E  210 
E  208 
E211 
E  212 


6  m. 
600  Yds.  ®    70 


6th 


E.D.&O. 

CD. 

(( 

M. 

4i 
(( 


« 


A.  Edwards  &  Co., 

E  209  1  Case  Satinets, 

D  .')32and533.  2  Bales  Check  Cottons, 

T>  526  and  529.  2 

<6>81  2 

u  2 

<;^84  4 

a  5 


Race  St. 


Drillings, 
Ps.  Fine  Blk.  Cassimeres, 
Extra  Fine  Bl'k.  Do., 
Super  W.  D.  Blk.  Cloths, 
Fine  Blue  Blk.         Do., 


u 


u 


tt 


8th 


M. 

u 

(4 


John  Smith, 

t86  7 

81  4 

<^82  4 

<^83  2 


CD. 


(C 


E.D.&0. 


Market  St. 
Ps.  Assorted  Brown  Cloths, 
»«     Extra  Blk.  Cassimeres, 
Oxford  Miird     Do., 
MUrd  Drab        Do., 


(I 


M 


_10th 


B.  Warner  &  Co.,  Arch  St 

B  469  and  470.  2  Cases  Extra  Fine  Prints, 
D  525  and  528.  2     «     Ginghams, 
E  201  and  202.  2    «     Satinets, 


_llth 


Af. 

C( 


E.  Jones, 

<$>87 


M 
M 


5 
2 
2 
3 


Coates  St 
Ps.  Blue  Cloths, 
«     Extra  Blue  Cloths, 
«     Light  Mix'd     Do., 
«     Dark       "        Do., 

254 


720 

« 

««     65 

500 

(( 

«  1,00 

600 

(( 

"1,25 

900 

u 

"     15 

800 

u 

«     16 

600 

a 

«     12 

6  m. 
660  Yds.  0    70 

900  « 

950  " 

80  « 

80  « 

93  « 

120  " 


«  10 
«  10 
fi  2,50 
"  2,75 
«  9,25 
«  7,50 


42000 
468:00i 
500,00i 
G25  00i 
135l00| 
12800; 
72I00' 


3  m. 
175  Yds.  @  4,75 

160     «     "  2,75 

152     «     «  2,32 

84     «     «*  2,30 


Note  ^  4  m. 
2,000  Yds.  0    14 

1,800     «     '♦     20 

1,200    "     "     65 


Check  on  Bank. 
125  Yds.  0  5,25 

60     «     «  6,00 

60     "     "  4,76 

72    «     «  4,75 

Ain*t  forward 


385  00 

9o;ooi 

95|00: 
200;00| 
220  00 

85100; 

90000 


831 
440 


2o 
00 


35264; 
193  20 


280|00i 
360|00 
78000 


656 
300 
237 
342 


53100 


2,348 


25 
00 
50' 
00 


00 


2,741 '00 


1,817 


09 


1,42000 


1,535 


iJ 


I0,392i84 


SALES-BOOK,  FORM  6. 

Philadelphia,  March  12/A,  1853. 


fi.  L.  F. 

Consignor. 

10,392 

84 

4 

Shepherd  &  Co.,                         Chestnut  St. 

4  m. 

s/ 

E.D.&0. 

E  204  and  205.  2  Cases  Cassimeres, 

800  Yds.  o  1,50 

1200  OOj 

x/ 

<( 

E  203                 1       «          Do., 

400     «    «  1,25 

50000, 

y/ 

M. 

<S>    85                4  Ps.  Blk.  Cloths, 

100    «    «  6,00 

600  00 

v/ 

(( 

<^    88                8    «  Victoria  Do., 

14th 

192     «     «  4,00 

768 

00 

3,068 

00 

4 

J.  Thompson,                                  Fourth  St 

Cash. 

x/ 

S.  &  Co. 

n   26                 6  Ps.  Assorted  Green  Cloths, 

150  Yds.  0  4,75 

712 

50 

y/ 

(( 

«                  6  «         "         Brown     Do., 

126     «     «*  5,30 

693 

00 

v/ 

(( 

«                 5  «        «        Blue        Do., 

15th 

125     «     «  5,25 

656 

25 

2,061 

iO 

5 

Bonnard  &  Bates,                     Filbert  St 

6  m. 

v/ 

E.D.&0. 

E  206                 1  Case  Satinets, 

425  Yds.  a    72 

306 

00 

s/ 

n 

E207                 1    «         Do. 

17th 

450     «     «     50 

225 

00 

531 

00 

5 

J.  Lapsley  &  Co.,                         Second  St 

v/ 

M. 

^89                 3  Ps.  Superfine  Inv.  Green  Cloths, 

75  Yds.  0  7,50 

562 

50 

s/ 

S.  &  Co. 

Z\  28                2   «        «•          Olive  Brown  Do., 

48     «     «  7,50 

360 

00 

v/ 

•     " 

«                  2   a         a          Blue               Do., 

48     «     «  7,50 

360 

00 

%/ 

(( 

«                  6   «                   Victoria         Do., 

150    «     «  4,75 

712 

oOj 

* 

1995 

00 

Discount  i 

3  ^  for  cash 

99 

75 

1,895 

25 

lQf}i 

6  m. 

5 

Smith  &  Williams,                   Broad  St 

v/ 

M. 

^89                 6  Ps.  Fine  Drab  Cloths, 

QOth 

ISOYds.  0  3,75 

562 

50 

4 

A.  Edwards  &  Co.,                Race  St 

6  m. 

>/ 

S.  &  Co. 

a  27                5  Ps.  Black  Cloths, 

125  Yds.  i^  0,75 

843 

lb 

(( 

"                 4  «    Extra  Fine  Blk.  Cloths, 

?4th 

96     «'     «  9,25 

888 

00 

1,731 

75 

4 

J.  Thompson,                                Fourth  St 

Note  0  6  m. 

%/ 

C  D. 

D  521  and  522.  2  Bales  Drillings, 

950  Yds.  0    10 

95 

00 

x/ 

<( 

D  534                 1  Case  Ginghams, 

925    «     «     16 

148 

oo 

y/ 

(( 

B  475                 1     «     Fine  Prints, 

1,025     «    «     12 

123 

00 

v/ 

P.  K. 

c  125                 1  Bale  Tickings, 

475     ««    «     16 

76 

00 

v/ 

(C 

c  119                 I     «        Do.,                ,        1 

500    «     «     15 

75 

00] 

^ 

(( 

c  124                 1     «    Extra  Do., 

450    «    «     20 

90 

• 

00 

607 

00 

4 

Bonnard  &  Bates,                   Filbert  St 

6  m. 

V 

S.  &  Co. 

□  28                 2  Ps.  Superfine  Inv.  Green  Cloths 

,    48  Yds.  &  7,50 

360 

00 

v/ 

(C 

«                  3  «    Victoria                        Do., 

75    «    «  4,75 

356 

25 

v/ 

(( 

n  29                 e  «    Extra  F.  Blk.  (Cassimeres, 

230     «    X  2,50 

590 

00 

%/ 

(( 

«                 3«    DrabMill'd           Do,            118    «    "2,00 

Am't  forwar'J 

236'00 

1,542 

25 

22,392 

34 

\ 


255 


.\'i^.-.i!^.)i. 


SALES-BOOK,  FORM  6. 

Philadelphia,  March  21th,  1853. 


B.L.F.  t  Ck)niif nor. 


'i 
I 

4 

y< 

%/ 

CD. 

x/ 

(( 

6 

v^ 

s.  &c 

V 

cc 
cc 

John  Smith,  Market  St. 

B  472  1  Bale  Check  CoUont, 

B  474  1     M     Drillings, 


6  m. 
650  Yds.  &  U 
62ft    M     «  10^ 


.29th. 


4 

5 


CD. 

it 


Smith  &  Williams,  Broad  8t 

Q  27  6  P".  Blue  Blk.  Clotha, 

□  29  3  «    Oxford  Mill'd  CaMimerw, 

M  2mm      MixM         D<s 

31st 


4  m. 
125  Yds.  &  6,00 
125     «     «•  2,32 
SO    u    **  1,90 


B.  Warner  &  Co., 

B  477  1  Case  Prints, 

B  480  1     **      ^o-* 


ArchSU 


Note  (9  4  m. 
985  Yds.  &  10* 

970     "     «  12 


71 
55 


I 


Total  month's  sales,  posted  to  Sales  % 


290  00 
152  00 


22,392  34           1 

50 
13 

126 

63 

00 

\ 

103 
116 


43 
40 


1,192 


00 


219 


23,930 


83 
80 


In  making  entries  in  the  Sales-Book,  the  initials  of  the  consi^ors  and  the  marks  and 
numbers  of  the  packages  are  given,  as  an  index  in  transferring  to  Uie  Accoimt-Sales- 

^""Entries  in  this  book  are  posted  to  the  Sales  Leger,  and  therefore  they  must  in  all"  cases 
be  made  to  the  debit  of  the  individual  to  whom  goods  are  sold  ;  and  if  payment  be  made 
bv  note  or  cash,  it  must  be  passed  to  his  credit  on  the  Cash-Book.  All  the  debits  are 
posted  daily,  or  as  often  as  convenient,  and  at  the  close  of  the  month  the  total  sales  are 
Dosted  to  the  credit  of  the  Sales  Account.  ,       , .    ,     i  ^    c       i  ♦ 

^  From  time  to  time,  as  convenient,  the  sales,  as  shown  by  this  book  are  transferred  to 
the  Account-Sales-Book,  the  items  being  checked  as  fast  as  transferred,  to  prevent 
omissions. 


256 


^COUNT-SALES-BOOK,  FORM  6. 

Sales  for  account  of  Charles  Duncan. 


Date. 


M 
M 

4( 
«< 

«( 

u 

M 

U 
U 

U 
M 


1863. 

Mar.l  3 
(( 

4 

6 

<( 

10 

u 

24 

(4 
ii 

27 
(( 

31 

u 


To  whom  sold. 


John  Smith 
Do. 

E.  Jones 

A.  Edwards  &  Co. 
Do. 

B.Warnef&Co.(Note) 
Do. 

J.  Thompson  (Note) 
Do. 
Do. 

John  Smith 
Do. 

B.  Warner&  Co.(Note) 
Do. 


Time 


8  m. 

M 

6  m. 

t( 
4  m. 

u 

6  m. 

(( 

a 

(( 
u 

4  m. 

(4 


Mark 


B 

(( 

(( 
D 

44 

B 
D 

44 
U 

B 

(4 
44 

44 
44 


No. 


476 

46Si 

467 

I 
i 


632 
533 
526 
619 


Description  of  goods. 


499? 

470  i 

528 


SSI 
522 


I 
I 

475 

472 
474 

477 
480 


1  Case  Prints 

2  Bales  Drillings 

1  "    Check  Cottons 

2  "      Do.       Do. 
2   «   Drillinsrs 


2CasesExtraFinePrints 
2    "   Ginghams 

2  Bales  Drillings 
1  Case  Ginghams 
1    "      Fine  Prints 

1  Bale  Check  Cottons 
1    "     Drillings 

1  Case  Prints 
1     "         Do. 


Yds. 


1,000 
900 

600 
900 
950 

2,000 
1,800 

950 

925 

1,025 

650 
525 

985 
970 


Price' 


10 
12 

12 
10 
10 

14 
20 

10 
16 
12 

11 
10* 

10* 
12 


Am*t. 


Charges. 

Insurance 12,72 

Freight 40,32 

Drayage 2,37 


InU  on  $31,92  from  Mar.  1st    ,16 
"      $23,49      «     "     5th    ,10 

Postage 

Com.  and  Guarantee  at  5  ^ 

Net  proceeds,  due  Sept.  6-9 


10000 
10800 

~L 

90001 
95 

1280 
360,00 

9500 
14800 
12:^00 

715^ 
5513 


10343 
11640 


TotaL 


208^00 
7200 


18500 


640j00 


aaaioo 


12663 


219 


8:3 


_    E.  E.     Philadelphia,  March  Slst,  1853. 


J.  DuNLAP  &  Co. 


Sales  for  account  of  Peter  Kelly. 


Date. 

1863. 

Mar. 


•4 


4( 


3 

44 

4 

44 

241 

44 
44 


To  whom  sold. 


John  Smith 
Do. 

E.  Jones 
Do. 

J.  Thompson  (Note) 
Do. 
Do. 


Time 


8  m. 

44 

6  m. 

44 

44 

44 
44 


Mark- 


No. 


iiii 
m\ 

IIS) 

luj 

116) 
116  { 
II7J 
120  5 

125 
119 
124 


Description  of  goods. 


2  Bales  Tickings 
Extra    Do. 

Do. 
Do. 


2 
2 

1 
1 
1 


Yds. 


Do. 
Da 
Do. 


900 

850 

900 
800 

475 

500 
450 


Price 


17 

20 

15 
16 

16 
15 

20 


Am't.  li   TouL 


Charges, 

Freight 8,64 

Drayage 1,00 


Int.  on  $9,64  from  Mar.  1st 

Postage 

Our  Com.  at  2^  ^      ... 

N«t  proceeds,  due  Oct.  10^13 


^    E.  E.     Philadelphia,  March  Slst,  1853. 


153  00 
JTOO^ 

135  00 
128  OQ 

7600^ 
7500 
9000 


92300 


26300 


24100 


964 

p 

'94! 
206^ 

~n 


82700 


31  3  i 


795;6B 


J.  DuKLAP  &  Co 


2H 


257 


.^.■^.^^  .  t^Wa^Ms  .>w  ..^L^.  -^    '.  1 


Date. 


1853. 

Mar 

(( 

«4 

It 

it 
M 
k( 
•t 

it 


ACCOUNT-SALES 

Sales  for  aeemnt  of  E.  Dicksm  andOwrsdm^J^^RJ 

Time 


To  whom  sold. 


E.  Jones 
Do. 
Do. 
Do. 


„   A.  Edwards  &  Co. 
10  B.Warner&Co.(Note) 
12  Shepherd  &  Co. 
Do. 


ti 


Bonnard  &  Bates 
Do. 


6  m. 

it 

t( 

it 

4  m. 

(C 

6  m. 

(i 


Mark 
E 

(4 
(t 
it 

M 
it 
U 
it 

(t 
it 


No. 


DescriptioQ  of  goods. 


Yds. 


210 
208 
211 
212 

209 

701 
SM 

904 
Mi, 

203 


1  Case  Satinets 


206 
1207 


1 
1 
1 

1 
2 
2 
1 


u 
t( 

t( 
(( 
i( 
(( 


Do. 
Cassimeres 
RibbM  Do. 

Satinets 

Do. 
Cassimeres 

Do. 


1 
1 


GOO 
720 
500 
600 

550 

1,200 

800 

400 


425 
450 


70 

65 

1,00 

1,25 

70 

65 

1,501 

1,25| 

72 
5ri 


420  00 
468'00 


TolaL 


500 
625 


00 
00 


1200 
500 


E.  E.     Philadelphia,  March  3l8/,  1853. 


Satinets 
Do. 

Charges, 
Ins.  121,64,  Fr't  $21,60,  Dray.  $1,00 

Int.  on  $44,24  from  Mar.  3d 
Postage    ..,...• 
Com.  and  Guarantee  at  5  % 

Net  proceeds,  due  Aug.  19-22 
E.D's  ^$2,546,58,Our  i$2,546,5B; 


30(i 
225 


00 
00 

00 
00 


2,013|00 

385'00 
7«0|00 

1,70000 


531 


4421 

21 
94 
27045^ 


5,409 


00 

00 


31584 


5,093|16 


J.  PUNLAP  &  Co. 


Sales  for  account  of^^mhandise^ 


Date. 

1853. 

Mar 


4( 

a 

It 
u 

i( 

U 

♦« 
t« 
»t 

I* 


To  whom  soH. 


Time 


6 

ti 

tt 

it 

8 
tt 

it 

»f 

11 

I" 
it 

it 

12 

it 

In 


A.  Edwards  &  Co. 
Do. 
Do. 
Do. 

John  Smith 
Do. 
Do. 
Do. 

E.  Jones  (Check) 
Do. 
Do. 
Do.        " 


6  m. 

it 

it 

u 

3  m. 

it 

it 


Mark 


Shepherd  &  Co. 
Do. 

J.  Lapsley  &  Co. 


Smith  &  Williams 
A- 


4  m. 

it 


tt 
it 
it 

it 
it 
it 
it 

if 
it 
it 
it 

tt 

it 
tt 


No. 


Description  of  goods.  |  Yds 


81 

it 

,84 

tt 

88 

81 
82 
83 

87 
it 

it 

tt 

85 
88 

89 


2Ps.  Fine  Blk.  Cass. 
2"Ex.F.Blk.  Do. 

4  "  Su.W.D. Blk. Cloths 

5  «  FineBlueBlk.Do. 

7  "  As'd.  Brown  Do. 

4  "  Extra  Blk.  Cass. 
4"  Oxford  Miird  Do. 
2  "  Mill'd  Drab  Do. 

5  "  Blue        Cloths 
2  "  Extra  Blue    Do. 

2  "  Light  Mix'd  Do. 

3  "  Dark    Do.    Do. 


4  "  Black 
8"  Victoria 


Do. 
Do. 


150  3,75^ 


3  "  Su.Inv.GreonDo. 
Dis.  5  ^  for  cash 

6  m.    "      89   6  Ps.FineDrabClothfi 

Charges. 
Duties,  $3,621,69,  Ins.  $135,81  ! 
Freight,  $65,34,  Drayage,  S0,75 
Com.  and  Guarantee  at  5  J^ 

Net  proceeds 
March  31*/,  1853^ ' 


ACCOUNT-SALES-BOOK,  FORM  6. 

Saks  for  account  of  Sharpkss  8f  Co. 


Date. 

1868. 

Mar. 
«t 

tt 


*i 
tt 
it 


14 

it 

it 

17 

it 

it 


To  whom  sold. 


44 
M 

<f 
«f 
«« 
M 

¥ 

M 
U 


20 

tt 

24 

it 

u 
tt 


J.Thompson  (Cash) 
Do. 
Do. 

J.  Lapsley  &  Co. 
Do. 
Do. 


A.  Edwards  &  Co. 
Do. 

Bonnard  &  Bates 
Do. 
Do. 
Do. 

Smith  &  Williams 
Do. 
Do. 


Time 


Mark 


6  m. 

M 


if 
if 
if 
ft 


D 

it 
it 


it 

It 

it 


No. 


4  m. 

tt 


ft 


ft 
tt 

ft 

it 
it 
it 

it 
it 
it 


26 

it 

it 

28 
it 

it 


Description  of  goods. 


27 

it 

28 
it 

29 
ft 

27 

29 

it 


6  Ps.As'd  Green  Cloths 
6  "      "     Brown    Do. 

5  *♦      *«    Blue       Do. 

2  «  Su.F.OliveBr.  Do. 
2  i»  ^«    Blue        Do. 

6  "  Victoria  Do. 

Discount  5  ^   for  cash 

5Ps.Blk.  Cloths 

4  «  Extra  F.  Blk.  Do. 

2  "  S.F.Inv.Green  Do. 

3  «  Victoria  Do. 
6  "  Extra  F.  Blk.  Cass. 
3  "  Drab  Mill'd      Do. 

5  «  Blue  Blk.  Cloths 
3  «  Oxford  MillM  Cass. 
2  «      «      Mix'd    Do. 


Yd: 


150 
126 
125 

48 

48 

150 


125 
96 

48 

75 

236 

118 

125 
125 

80 


Price 


4,75 
5,.50 
5,25 

7,50 
7,50 
4,75 


6,75 
9,25 


Am*t.    Ij   Total. 


71250 
69300  I 

656  25  2,061 75 


360001 
360001 
71250!i 


7,50, 
4,75 
2,50 

2,00 

6,Oo! 
2,32 
1,90 

Charges, 

Duties 1866,04 

Freight 29,04 

Drayage 38 

Int.  on  $1,895,46  from  14th  inst. 

Postage 

Com.  and  Guarantee  at  5  ^     . 

Net  proceeds,  due  July  27-30 


1,432  50!  ! 

7163  1,360187 


84:}75i  I 

88800j,r3175 


36000 

356  25^1 

59000! 

236  00  1,^225 


75000 
29000! 
15200  1,19200 


7388  62 


1,89546 

5371 
150i 

394  43  2,29676 


15,591  ^6 


E.  E.     Philadelphia,  March  31*/,  1853. 


J.  DrxLAP  &  Co. 


258 


By  making  this  book  one  from  which  to  journalize,  instead  of  using  it  only  for  pre- 
serving copies  of  Account-Sales  rendered,  we  are  saved  the  labor  of  keepmg  in  the  Leger 
the  consignment  or  sales  accounts  of  the  individuals  for  whom  goods  are  sold,  and  jdso 
obtain  a  proof  of  correctness,  which  is  described  under  the  Journal. 

Under  the  headings  of  "  Sales  for  %  of,  ^c,"  the  sales  for  each  consignor  are  copied 
from  the  Sales-Book  at  any  convenient  time,  and  once  in  three  months,  or  as  often  as 
Account-Sales  are  to  be  rendered  to  the  consignor,  the  charges  on  goods  sold  as  shown  by 
the  Receiving-Book  and  Postage-Book,  with  interest  on  these  charges,  and  commission 
for  selling,  &c.,  are  placed  underneath  the  sales,  and  deducted  therefrom,  leaving  the  net 
proceeds. 

The  total  sales  are  journalized  to  the  debit  of  Sales  Account,  the  net  proceeds  to  the 
credit  of  the  different  consignors,  and  the  charges  to  the  credit  of  Charges  and  Commis- 
sion, noting  the  Journal  folio  on  which  the  entry  is  made. 

A  space  may  be  left  after  each  heading,  of  from  a  part  of  a  page  to  any  number  o 
pages,  according  to  the  probable  amount  of  sales  to  be  entered  under  it,  and"^  an  Alphabf 
may  be  used  for  convenience  in  referring  to  the  different  Account-Sales. 

When  goods  of  various  kinds  are  received  from  a  consignor,  and  he  wishes  an  Account- 
Sales  rendered  of  each  separately,  "Sales  for  %  of"  said  consignor  may  be  opene»l 
more  than  once,  and  numbered  1,  2,  3,  &c.,  by  way  of  distinction. 

259 


•  \ 


f  I 


1 


JOURNAL,  FORM  6. 

Philadelphia,  March  3d,  1853. 


3 


1^ 
2 


5 
2 
2 
3 
3 
1 
2 


I 


Mdse.  Co.  R.  To  E.  Dickson,  4mos. 

For  our  |  Invoice  of  Satinets  and  Cassimeres  rec'd  this  day,  to  b«  told 

on  his  and  our  joint  ^ 
Am't  of  Invoice,  ^4,327,20, our  ^  is 


5th 


Merchandise  To  Lovering  &  Bache, 

For  Broad  Cloths  and  Cassimeres  rec'd  this  day,  pr.  Invdce,  amounting 

to  £1872  lis.  5d. 
Sent  them  a  Bill  of  Exchange,  as  pr.  C^B.,  for  £900; the  Balance  due 

at  6  month* 

31st 


2,163 


Sales  Account 

Mar  31.  To  Chas.  Duncan, 
To  Peter  Kelly, 
To  E.  Dickson, 
To  Mdse.  Co.  R. 
To  Merchandise, 
To  Sharpless  &  Co. 


To  Sundries  For  Ac'uSales  rendered. 


It 
(( 
« 


It 
(( 
(( 
<( 


due  Sept    6-9 
«   Oct    10-13 
«  Aug.  19-22 

tt  U  M        M 


«  July  27-30 

To  Charges  and  Commission 


1,817,46—  147,85 
827,00—  ^1,31 
2,704,60—  157,92 
2,704,50—  157,92 
7,988,72—4,223,03 
7,888,62—2,296,76 


23,930,80—7,014,79 


60 


8,322 


1,669 
795 
2,546 
2,546 
3,765 
5,591 


54 


61 
69 

58 
58 
69 
86 

16,916  01 
7,014  79 


23,930i80 


Any  miscellaneous  entries  that  occur,  for  which  there  is  no  other  specific  place  of  tntry, 
are  entered  in  this  hook  directly ;  and  periodically,  sav  once  in  3  months,  the  sales  for 
account  of  consignors,  in  the  Account-Sales-Book,  are  closed,  and  journalized  into  it.  If 
it  is  wished  to  render  an  Account-Sales  to  any  consignor  before  this  periodical  journalizing, 
the  sales  for  his  account  must  be  closed,  dated,  and  signed,  and  a  duplicate  forwarded 
him,  but  no  Journal  entry  made  until  the  periodical  time. 

The  dates  preceding  the  consignors'  names,  show  the  time  when  the  Account-Sales  were 
closed  and  entered.  In  the  examples  given,  the  closures  are  all  at  one  time,  but  had  any 
consignor's  sales  been  closed  several  times  before  journalizing,  these  dates  would  dis- 
tinctly show  it. 

When  the  Account-Sales-Book  is  all  journalized  and  posted,  there  is  in  the  Sales  J?c- 
tmmt  upon  the  Leger,  a  proof  of  the  correctness  of  the  Sales,  and  Account-Sales  Books. 
Thus,  in  this  month's  operations,  the  total  amount  of  sales  to  different  persons,  as  shown 
by  the  Sales-Book,  is  $23,930,80,  which  sum  is  posted  to  the  credit  of  the  Sales  AccmirU, 
The  sales  having  been  transferred  to  the  Account-Sales-Book,  (each  sale  to  the  account 
of  the  person  for  whom  it  was  made,)  and  from  thence  journalized  ;  the  total  sales  col- 
lected in  the  Journal,  and  from  thence  posted  to  the  debit  of  the  Saks  Account^  is  also 
$23,930,80,  the  same  amount  as  shown  by  the  Sales-Book. 


:  * . 


260 


f" 


REMARKS   ON  THE  LEGERS,  FORM  6. 

In  the  Key  I  have  given  examples  of  two  Legers  for  this  Form,  one  of  which  is  termed 
^ales-Leger,  to  distmguish  it  from  the  other.  In  the  Sales-Leger  are  opened  all  accounts 
with  persons  to  whom  you  sell  goods,  and  the  debits  to  them  in  the  Sales-Book  for 
goods  sold,  together  with  all  entries,  either  debit  or  credit,  which  occur  to  these  same 
persons  in  any  other  of  the  books  of  original  entry,  are  posted  to  this  Leger.  The 
^Sales  Account    is  also  kept  m  this  Leger.     All  other  entries  are  posted  to  the  maim 

In  houses  doing  a  very  extensive  business,  the  Leger  is  soon  filled,  and  the  labor  of 
transterrmg  all  the  accounts  to  a  new  one  is  very  considerable.  But  by  havin<r  a  Sales- 
Leger,  this  task  will  not  be  of  as  frequent  occurrence,  since  each  of  the  Lerrere  may  be 
made  as  large  as  can  conveniently  be. used,  and  the  two  will  contain  twi?e  as  iMnv 
accounts  as  one.  Another  advantage  in  keeping  a  Sales-Leger  is,  that  an  assistant  may 
post  up  the  Sales-Book,  and  thus  lighten  the  labor  of  the  head  book-keeper.  This  pbn 
of  haying  more  than  one  Leger  is  adopted  in  jobbing  and  other  houses  as  well  as  in 
commission  houses  and  some  jobbing  houses  have  three,  a  City-Sales-Leqer,  a  Country- 
^aleihLeger,  and  the  main  Leger.  ^' 

These  two  or  more  books  constitute  in  fact  but  one  Leger,  and  each  book  is  but  a 
^rtion  ot  that  one  Leger,  bound  in  a  separate  cover.  Li  making  out  Trial  Balances, 
Balance  Sheets,  &c.,  they  are  to  be  treated  as  one. 

Postings  from  the  Journal  should  be  distinguished  in  the  Leger  by  being  marked  "Jf* 
those  from  the  Sales-Book  should  be  entered  "  To  Sales,"or  in  the  Sales  Account  "By 
&ales ;    all  other  postings  will  then  be  known  to  come  from  the  Cash-Book. 


TRIAL  BALANCE,  LEGER,  FORM  6.    March  Blst,  1853. 
=_ Br. 


L.F. 
4 

4 
5 


Cr. 


E.  Jones    - 
A.  Edwards  &  Co. 
Bonnard  &  Bates 
Smith  &  Williams 


Sales  Leger, 


2 
2 
2 
2 
3 


1 

1 

1 

1 

1 

1 
o 

2 
3 
3 


Personal  %j  having  balances  due  firm 
Main  Leger. 


2,348  00 
4,47275. 
2,073!25  I 
1,75450 


10,6481.50 


Lovering  k  Bache  - 
Sharpless  &  Co. 
Charles  Duncan 
Peter  Kelly 
E.  Dickson     -      .  . 


Personal  %^  having  balances  firm  owe 


James  Dunlap 

Samuel  Robinson 

T.  W.  Welsh  - 

Cash 

Charges  and  Commission 

Merchandise 

Bills  Receivable 

Interest     -         -         - 

Merchandise,  Co.  R 

Store  Expenses  - 

Personal  %^  due  firm     - 

Personal  %^  firm  owe 


4,322  54 
2,591  86 
1,669  61 
795  69 
4,71018 


261 


14,Q89[88 

3,000*00 
3,000  00 
3,00000 

I 
1,17587 


382  9S 


14.089*88 


P  24.648  73 


• 

tn 

•B 

-S 

rt 

.iH 

kO 

tH 

»  > 

S    - 

00    OJ 

--2 

U    CO 

CO  ^ 

g^ 

-^   to 

:s 

w  3 

-^  e 

ayment 
the  ch 

w    bO 

f^-a 

•g  8 

^^    0) 

=*    *S 

CO  ^ 

^     fl 

^-S 

a>  r^ 

O    0) 

•^5 

bCe» 

o 

&c.,  to 
-Sales  i 

(0  •{^ 

'-'% 

a<  o 

e  S 

^  o 

-c.S 

-5  o 

•<--  "^ 

3  < 

o    ^ 

-  s 

ks,  n 
n  an 

br)<u 

it 

CO  "A 

.H 

OS    ••* 

"I^  § 

i^ 

S  2 

CO   o 

0.2 

%*  o 

c-^ 

a;  a> 

•»     22 

fc.    o 

O  "^ 

be  o 

bc-S 

•** 

C    ^ 

'K   « 

V  c 

c   fl 

■5  ^. 

o  g 

-.  ^ 

¥- 

O    -" 

e«   d 

^E» 

^8 

Wi-^ 

«2  5 

e*     CO 

en    •»4 

ecei 
and 

^4 

.--        y) 

•5        g 

o  tb 

O 

»^     n> 

•^*      _ 

CO  V 

^    •-*    ^H 

1^^ 

C    3 

«   rt   Si 

time  a 
es,  ins 

2^   S-F-^ 
a>    £3    ^  13 

2>  ^  S  ^^ 

The 

•  duti 

EXPENSE  CASH-BOOK,  FORM  6. 


B=C 


Date. 


Mar. 


t*     OJ  '^     ^ 


1 

3 

5 

5 

6 

12 

14 

25 

31 
(( 

« 


Paid  Insurance  and  Freight  on  Cons't.  of  C.  Duncan 


« 
(( 
(( 
(( 

C( 

(C 

(( 

(C 


Do. 
Do. 
Do. 

for  Stationery 
"   2  Tons  Coal 


Do. 
Do. 
Do. 
Do. 


"  "  "  P.  Kelly 
"  "  «  E.  Dickson 
"  "  "  C.  Duncan 
"  Merchandise 

Grigg  &  Elliott 
J.  West 


Freight  on  Sharpless  &  Go's  Cons't. 

for  Gas  light 

J.  Bingham  one  month's  wages 

Saml.  Ball  "  " 

Philip  Frazer     «  «  

P.  W.  McGregor  for  drayage  this  month 
Postage  for  sundry  persons,  pr.  Postage  Book,  this  mo. 
Do.      "  our  own  %  "         "         "       "     " 

Ent'd  on  main  Cash-Book,  foUo  1 


65,00 
40,00 
15,00 


Store  Exp*i 


12 
9 

18 


120 


162 


50 
00 

75 


00 


25 


50 


ChargeiL 


3067 

8^64 

4324 


22 
201 


2904 


37 
15 


345 


50 
469 


30 


In  this  book  are  entered  the  petty  expenses  for  store,  and  the  petty  charges  paid  for 
consignors,  each  in  a  column  appropriated  for  that  purpose ;  and  the  totals  of  these 
columns  are  taken  to  the  main  Cash-Book,  whenever  a  trisd  of  the  cash  account  is  to  be 
made. 


INYENTOHY-BOOK,  FORM  6. 


<S>  #81. 
«  #82. 


C( 


#83. 


"  #84. 

"  #85. 

"  #86. 
"  #87. 

«  #88. 

"  #89. 


Merchandise  on  hand  March  31st,  1853. 
6  Ps.  Fine      Blk.     Cassimeres 


3 
7 
1 
3 
3 
5 
2 
2 
4 
7 
7 
2 
2 
2 
5 
5 


"    Oxford  MiU'd 


"       Mix'd 
Drab  Mill'd 
Fine  Blue 
"      "     Mill'd 
"   Assorted  Col'd 
«   Super  W.  D.  Blk.  Cloths 

Do. 


C( 

« 


Do. 
Do. 
Do. 
Do. 
Do. 
Do. 


"   Fine  Blue  Blk. 
"   Black 

"   Assorted  Green 
"         Brown 

Light  Mix'd 

Dark 
"   Victoria 


(( 


C( 


(( 


Superfine  Drab 


Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 
Do. 


Add  50  fo  for  Freight,  Charges, 

263 


240  Yds.  @  $1,24 

114 

«     1,24 

266 

'     1,00 

42 

'     1,22 

126 

'     1,22 

126 

<     1,22 

212 

'     1,11 

46 

'     5,00 

48 

*     4,00  i 

100 

«     3,00 

175 

<     3,00 

175 

«     3,00  1 

50 

*     2,50 

48 

«     2,50 

48 

«     2,00 

120 

'    2,78 

120 

'     3,00 

les  and  Exc 

hange 

29760 

141J36 

26600 
5124 
15372 
15372 
235  32 
230i00 
192  00 
30000 
52500 
5-2500 
12500 
120  00 
9600 
33360 
360|00 


4,105  56 


2,052 


78 


1116,158^4 


262 


INVOICE-BOOK,  FORM  6. 


Invoice  of  Cloths  and  CassimereSj  shipped  per  Saranak^  Turley^  bound  to 
Philadehhia^  on  ac't  and  risk  of  James  thmlap  Sf  Co.^  Merchants  there, 
and  to  them  consigned^  pursuant  to  their  order. 


<8>#81. 
"  #82. 
"  #83. 


"  #84. 
"  #85. 
"  #86. 
"  #87. 


"  #88. 
«  #89. 


6Ps 
8 
7 
7 
3 
3 
3 
5 
6 
7 
8 
7 
7 
7 
5 
2 
4 
5 
10 
5 
3 
6 
5 


Extra  Fine  Blk.  Cassimeres 
Fine  Blk.  Do. 

Oxford  MillM  Do. 

«     Mix'd  Do. 

MillM  Drab  Do. 

Fine  Blue  Do. 

"     "     MilPd         Do. 
Assorted  CoPd  Do. 

Super  W.  D.  Blk.  Cloths 

Do. 

Do. 

Do. 

Do. 

Do. 

Do. 

Do. 

Do. 

Do. 

Do. 

Do. 

Superfine  Inv.  Green  Do. 
Drab  Do. 

Superfine  Drab  Do. 


Fine  Blue  Blk. 
Black 

Assorted  Green 
"       Brown 

Blue 

Extra  Blue 
Light  Mix'd 
Dark       " 
Victoria 

(C 


Liverpool,  Feb.  12th,  1858. 


£ 

$.   d. 

240  Yds.  @    65. 

9d, 

81 

0 

0 

320    "     * 

*     5 

7 

89 

6 

8 

266     "     « 

*     5 

7 

74 

5 

2 

266     "     * 

*     4 

6 

59 

17 

0 

126     "     * 

«     5 

6 

34 

13 

0 

126     "     < 

«     5 

6 

34 

13 

0 

126     "     « 

*     5 

6 

34 

13 

0 

212    "     ' 

«     5 

0 

53 

0 

0 

138    «     « 

*  22 

6 

155 

5 

0 

168    «     « 

'  18 

0 

151 

4 

0 

200    "     * 

*  13 

6 

135 

0 

0 

175    "     * 

*  13 

6 

118 

2 

6 

175    "     ' 

'  13 

6 

118 

2 

6 

175     "     < 

'  11 

3 

98 

8 

9 

i        125     «     < 

*  12 

6 

78 

2 

6 

50    "     ' 

«  14 

8 

36 

13 

4 

100    "     * 

*  11 

3 

56 

5 

0 

120     "     « 

'  11 

3 

67 

10 

0 

240     «     « 

*     9 

0 

108 

0 

0 

120    "     < 

'  12 

6 

75 

0 

0 

75     "     < 

'  18 

0 

67 

10 

0 

150    "     « 

'    8 

4 

62 

10 

0 

120    «     « 

*  13 

6 

81 

0 

0 

1,870 

1 

5 

3  and  Drayage 

2 

10 

0 

Ul,872 

11 

5 

(Signed)    Loyering  &  Bache. 


Not*. — The  Inventory  on  the  preceding  page  is  that  portiofn  of  the  above  Invoice  that  remains  unsold, 
room  the  other  Invoices  are  omitted. 


To  save 


FORM  OF  A  CONTINUED  TRIAL  BALANCE. 

On  the  opposite  page  is  given  a  form  for  a  Continued  Trial  Balance  of  the  Leger,  in 
which  the  differences  only  of  the  accounts  are  entered. 

It  will  be  found  of  great  service  in  enabling  the  heads  of  an  establishment  to  see  at  a 
glance  the  standing  of  the  account  of  any  mdividual,  or  of  any  species  of  property,  and 
to  compare  it  with  the  former  position  of  that  account.  This  sheet  may  be  made  out 
monthly,  or  once  in  two  or  three  months,  at  discretion,  and  it  would  be  well  to  have  a 
book  ruled  for  the  specific  purpose. 

264 


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Stock      ,        . 
Cash 

Charges  and  Com. 
Merchandise  . 
Lovering  &  Banhe 
Bills  Receivable 
Sharpless  &  Co. 
Prem.  Int.  and  Dis. 
Chas.  Duncan 
Peter  Kelly     . 
Mdse.  Co.  R.  . 
Store  Expenses 
A.  Edwards  &  Co. 
Smith  &  Williams 

Profit  and  Loss 

E.  Jones 

Bonnard  &  Bates  . 

O 
'ii 

w 

o 

> 
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u 

Oh 

• 

Eh 

Bills  Payable 

J.  &.  G.  Henderson 

Manning  &  Lord    . 
Oviatt  &  Clark 

o 

n 

O 

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265 


t 


' 


FORM  OF  A  RECErV^ING  AND  FORWARDING  BOOK. 

Nashvilk,  Tenn.,  1853. 


How  Received. 


Talleyrand 
I'r.  N.  Orleans 


Cumberland 
fr.  Smithland 


Date  Rec'd. 


Apr.  15. 


Apr.  22. 


For  whose  ac't. 


Jas.  Swanson, 
Williamson  Co. 


Saml.  Walker, 
Columbia,Tenn. 


I 


No.  of 
Pk'gs 


10 


11 


WeigbU 


5000 

Char 


3000 
Char 


Rate. 


50 
ges. 


25 
ges. 


Freight, 


Storage. 


2500 
25  00 


7 
10 


50 
00 


00 


00 


Drayagc. 


25 


75 


Total. 


5625 


21 


25 


Leger 
Folio. 


300 


600 


When  the  receiving  and  forwarding  operations  of  a  house  are  confined  to  regular  cus- 
tomers, with  whom  the  house  has  running  accounts,  it  will  be  found  convenient  to  post 
directly  from  this  book  to  the  Leger — the  amounts  extended  in  the  total  column  being 
posted  to  the  debit  of  the  individuals  for  whose  ac't  received,  and  the  footings  of  the 
Freight,  Storage  and  Drayage  columns  being  posted  monthly  to  the  credit  of  their  re- 
spective accounts.  The  footing  of  the  Freight  column,  taken  to  the  credit  of  that  account, 
should  equal  the  amount  previously  debited  the  same  account  for  freight  and  charges  paid 
on  goods  when  received. 

When  a  cash  business  is  done,  this  book  will  be  used  only  as  a  register  of  particulars 
in  relation  to  goods  received,  and  no  posts  will  be  made  from  it.  The  postings  will  come 
through  the  medium  of  the  Cash-Book. 

FORM  OF  A  RECEIVING  BOOK. 

Philadelphia,  May  2nd,  1853. 


Shippers.               Marks. 

Consignees. 

Articles. 

Weight 

3175 

Rate. 

1,25 

Chnrpes. 

Am't. 

Hoffman  &  Co. 

H  &c. 

P.  Camden 
Pittsburg 

8  Boxes  Dry  Goods 

^M       60       61       6i       66       67       P8       70 
30&-|-6«X)4-4i5>4-'*'O+  460+ JjO-f-iiO-f-^'^  = 

1 

38 

41 

07 

A.Swain  &  Co. 

To  So 

Park  &  Selden 

2  Crates  Crockery  *^,^ 

1145 

87" 

75 

10 

77 

Cincinnati 

2  Bo.xes  Hardware  *^4^_ 

925 

87» 

50 

8 

59 

FORM  OF  A  FORWARDING  BOOK. 

Philadelphia^  May  3c?,  1853. 


Mark. 


S'oSo 


Conti^ees. 


P.  Camden 
Park  &  Selden 


Article*. 


Weight 


8  Boxes 

3004- 600+ 400+ 500-f  450-f  350-f-250-f  325=  3 1 7  5 

2  Crates  5204-625  1145 

2  Boxes  450  4-475  I*  925 

John  Morris,  Conductor,  Cars  No.  200,  520,  315,  626. 


The  last  two  Forms  are  for  houses  which  have  regular  transportation  lines  owned  in 
connection  with  them. 

In  the  Receiving-Book  are  mentioned  all  the  particulars  concerning  goods  received ; 
and  when  goods  are  forwarded  the  weights  and  marks  are  taken  down  in  the  Forwarding- 
Book,  also  the  numbers  of  the  cars  in  which  sent,  and  the  name  of  the  conductor  who 
takes  charge  of  them.  Then,  by  comparison  with  the  Receiving-Book,  it  can  be  seen 
whether  the  "v^eights,  &c.,  agree,  and  whether  the  goods  of  any  consignee  are  all  sent. 

NoTB.^ — The  examples  given  suppose  the  transportation  line  to  be  care,  but  if  it  were  boats,  the  Fomu  would 
Answer  equally  welL  , 

266 


COMMERCIAL  CALCULATIOiYS: 


OR, 


MERCANTILE  AEITHMETIC. 


267 


li-  V. 


I    \ 


COMMERCIAL  CALCULATIONS. 


INTEREST. 

Interest  is  a  premium  or  per-centage  paid  by  the  borrower  to  the  lender  for  the  use  of 

money  lent. 

There  are  several  methods  of  calculating  mterest,  of  which  we  give  the  foUowing. 

I.     To    OBTAIN    THE  INTEREST,  WHEN   THE  PRINCIPAL,    TIME,    AND    RATE    PER   CENT.  ARE 

GIVEN. 

< 

Rule  I. 

Multiply  the  principal  by  the  rate  per  cent,  per  annum,  and  ait  of  two  figures  in  the  pro- 
duct, as  decimals :  t/ie  result  will  be  the  interest  for  one  year.  Multiply  this  interest  by  the 
nuniber  of  years  in  the  given  time,  and  take  aliquot  parts  for  the  months  and  days. 

Rule  II. 

Express  the  time  given  as  the  fractional  part  of  a  year.  Multiply  this  fraction  by  the  rate 
per  cent,  per  annum,  and  the  principal  by  the  product  obtained,  and  in  the  last  product  point 
of  two  decimal  places. 

Rule  III. 

1st.   When  the  interest  is  at  6  per  cent,  per  annum. 

Multiply  the  principal  by  one-half  the  number  of  months  in  the  given  time,  and  point  of 
two  places  as  decimals  in  the  product.  If  the  given  time  be  days,  multiply  tlie  principal  by 
one-sixth  the  number  of  days,  and  in  the  product  point  of  three  decimals. 

2d.   To  find  the  interest  at  any  rate  per  cent. 

Obtain  the  interest  at  6  per  cent.,  as  above,  and  take  aliquot  parts  of  the  same  for  the 
required  interest : — thus,  if  the  rate  per  cent,  be  5,  deduct  one-sixth  from  the  interest  found  at 
6  per  cent. — i/*4,  deduct  one-third — ifl,  add  one-sixth — if  9,  add  (me-half;  and  so  on. 

I^'ote.— In  workin>5  by  rules  II.  and  III.,  if  the  time  consists  of  b^tth'  months  and  days,  get  the  mterest  for  each 
■eparately,  and  add  the  amounts  together  to  obtain  the  whole  interest. 

Examples, 
1.  What  is  the  Int.  on  $2,954  for  3  months,  10  days,  at  6  pr.  ct. } 


By  rule  I. 


29&4 
6 


3mos.  are  1  of  y'r  4)177,24 


lOd's  are » of  3mos.  9)44,31 

4,92 


Ans.  ^19,23^ 


By  rule  II. 

3  mos.  are  -^  or  |  of  a  y  *r,  and 
10  d's  are  -^^^  or  ^V  o^  *  y'r,  then 
^X6=15  x2954=44,31  Int.3mos. 
.yVx6=ix2954=_4^  Do.lOd's 

Ans.  $40,2:H 
"268 


By  rule  III. 

^  of  3  mos.  is  1^,  and 
i  of  10  d's  is  If  then 
2954  X  H =44,31     Int.  3  tnos. 
2954x18==  4,92,3^  Do.  10  dV 
Ans.  $49,23,:!^ 


COMMERCIAL    CALCULATIONS. 

2.  What  is  the  Int.  on  $3,670  from  Mar.  1st,  1852,  to  July  11th,  1853,  at  7  pr.  ct  ? 


By  rule  I. 

3670 
7 


3)256,90  Int.  1  y'r 
12)  85,6:^  «   4  mo§. 
7,13-,^"  10  d's 

$349,6611  Ans. 


By  rule  II. 

1853,        7,        II 
1852,        3,  1 

1  y*r    4  m.    10  d's  time. 


1^X7=9^X3670=342,531  Int.  16m. 
^'yX7=JVx3670=    7,KHi»  10  d's 

Ans.  $349,66-1-1 


By  rule  HI. 

3670x8=293,60 Int.  at  6  pr.  ct 

16  mos. 

3670xl|=  6,ll,6|Int.at6pr 

ct.,  10  d's. 

6)299,71,6|  wholelnL  it 
6  pr.  ct. 
Add  j-    49,95,2|f 

Ans.  $349,66,9^ 


3.  What  will  be  the  Int.  for  7  months,  at  9  pr.  ct.,  on  $6,745,52 


6745,52x9=607,09,68 
2)607.09.68  Int.  1  y'r 

6)303,54,84  «  6  mos. 
50,59,14  "  1  " 

$354,13-rV7  Ans. 


^7^x9=ff  or  51,  and 
5ix6745,52=$354,13^V  Ans. 


6745,52x3^=236,09,32  Int.  at 

Opr.cu 


Add  ^118,04,66 
Ans.  354,13^V 


4.  What  Int.  will  accrue  on  $2,184,25  for  210  days,  at  12  pr.  ct. .? 


2184,25x12=262,11,00 
2)262,11      Int.  1  y'r 

6)131,05,5    "  180  d's 
21,84,25  »    30  d's 

$152,89pV^  Ans. 


*  By  rule  II.  at  365  d's  to  a  y'r. 

Ibt  or  ^|xl2=VVx2184,25= 
$150,80ff  Ans. 

By  rule  II.  at  360  d's  to  a  y'r. 
ih^  or  1^x12=7x2184,25= 

$152,89T-V?r  Ans. 


2184,25x35=76,44,875  Int  at 

6pr.ct. 
2x 

$152,89-pV/t  Ans. 


Note. — Add  the  principal  and  interest  together  to  obtain  the  amount. 

5.  What  Amount  will  be  due  Sept.  1st,  1858,  on  a  Note  of  $16,844,  at  8  pr.  ct  Int. 
^iven  Mar.  1st,  1852  .J* 


16844x8=1347,52 

2)1347,52  Int.  1  y'r 
673,76  "    6  mos. 


2021,28  whole  Int. 
10844,00  principal 

$18865,28  Ans. 


1853, 
1852, 


9, 
3, 


1 
1 


1  y'r  6  m.    0  d's  time. 


1^x8=12x16844=2021,28  Int. 
Add  principal  16844,00 

$18865,28  Ans. 


16844x9=1515,96Int.at6pr  ct 
505,32  Add  | 

2021,28  Int.at8prct 
16844,00  Add  princM 

$18865,28  Ans. 


•  AH  short  methods  of  computing  Interest  for  days  assume  380  days  as  the  year ;  makinG^  the  calculation  at  so  much  per 
^r  960  dayf ;  and  on  account  of  the  ease  of  this  mode,  it  is  adopted  almost  exclusively,  although  365  days  is  the  leiral  year. 
ahove  example  is  sufficient  to  show  the  diiference  in  the  two  modes.    A»  custom  makes  law,  tbey  will  probably  not  long 
•pposed  to  each  other. 


269 


COMMERCIAL   CALCULATIONS. 

n.  The  principal,  interest,  and  time  being  given,  to  find  the  rate  per  cent. 
Rule.   Obtain  the  interest  on  the  principal  at  1  per  cent,  for  the  time  given,  and  divide  tht 
interest  given  by  the  interest  obtained :  the  quotient  mil  be  the  rate  per  cent,  required. 

Ex.  D  is  worth  $30,000.      At  what  per  cent,  must  he  loan  his  capital  that  his  income 
may  be  just  $1,500  per  annum? 

Int.  on  $30,000  one  year  @  1  pr.  ct.  is  $300. 
Then  1500-^-300=5  pr.  ct.     Ans. 


III.  The  principal,  interest,  and  rate  per  cent,  given,  to  find  the  time. 
Rule.   Obtain  the  interest  on  the  principal  for  one  year,  month,  (yr  day,  and  divide  the  given 
interest  by  tlie  interest  obtained :  the  quotient  will  be  tlie  time  sought,  either  in  years,  months, 
or  days. 

Ex.  1.  In  what  time  will  $2,400  gain  $360  Int.,  at  6  pr.  ct. } 
Int.  on  $2400  one  year  at  6  pr.  ct.  is  $144. 
Then  360— 144= 2 J  years.     Ans. 

Ex.  2.  How  long  must  $1 ,000  be  on  Int.  at  6  pr.  ct.  to  gain  $6,90  ? 
Int.  on  $1000  one  day  at  6  pr.  ct.  is  $0,16J. 
Then  6,90--0,16f,  or  20,70 -^0,50= 4 1|  days.     Ans. 


IV.  The  time,  interest,  and  rate  per  cent,  given,  to  find  the  principal. 
Rule.   Obtain  the  interest  of  one  dollar  for  the  given  rate  and  time,  and  divide  the  given 
interest  by  the  interest  obtained;  and  the  quotie)it  will  be  the  principal. 

Ex.     What  principal  is  required  to  gain  $147  Int.  in  three  years  and  a  half,  at  7  pr.  ct.  ? 

Int.  on  $1  for  3^  y'rs  at  7  pr.  ct.  is  $0,24,5. 

Then  147,00-0,24,5=  $600.     Ans. 


■1 


DISCOUNT. 


Discount  is  such  an  abatement  on  a  note,  bond,  bill,  or  book  account,  ihat  the  interest 
on  the  remainder  for  the  same  length  of  time  for  which  the  discount  is  made,  arid  at  thp. 
same  rate  per  cent.,  will  equal  the  discount. 
It  is  ascertained  by  the  following 

Rule.  Obtain  the  interest  on  $100  at  the  given  rate  and  time  ;  multiply  the  gi'^<^  ^Uiti  hy 
this  interest,  and  divide  the  product  by  the  amount  of  $100  at  the  same  rate  und  time:  the 
quotient  will  be  tJie  discowd. 

The  PRESENT  WORTH  is  (Stained  by  deducting  the  discount  from  the  given  sitm,  or  cmotint, 
Ex.  1.  What  is, the  discount  on  $6,000,  at  6  pr.  ct.,  for  90  days. 
Int.  of  $100  @  6  pr.  ct.  for  90  days  is  $1,50. 
Am't "    "     "        "         "    "     ^'      "  $101,50. 
Then  6000  x  1,50=9000,00- 101, 50= $88,66|g4.     Ans. 

Ex.  2.  What  is  the  present  worth  of  $1,675,50,  due  2  years  hence,  disc^.unt  at  9  pr.  ci  '' 
Int.  on  $100,  for  2  y'rs,  @  9  pr.  ct.  is  $18. 
1675,50x  I8=30159,00--118=255,58f|  discount. 

Am't  1675,50 
Less  discount   255,58-51 

$1419,91^^.     Ans. 
270 


COMMERCIAL  CALCULATIONS. 

BANK  DISCOUNT. 

Bank  thscount,  or  interest  paid  beforehand,  is  calculated  in  the  same  manner  as  interest. 

Banks  now  generally  include  in  their  reckoning  both  the  day  when  the  note  is  discounted 

aiid  tlie  day  on  which  the  time  specified  in  it  expires,  which,  with  three  days  of  ^ace, 

makes  the  time  for  which  discount  is  taken^owr  days  more  than  the  time  specified  in  the 

note. 

Ex.  What  is  the  bank  discount,  at  6  pr.  ct.,  on  a  note  for  $1,200,  payable  sixty  daj-s 
hence  ^ 

60 -f  4=64  days,  time  for  which  discount  must  be  reckoned, 
i  of  64=  10|x  1200=  12,80,0.     $12,80.     Ans. 


DISCOUNT  ON  BILLS  AND  INVOICES. 

Merchants  are  in  the  habit  of  deducting  a  certain  per-centage  from  invoices  and  biUs  of 
goods  sold  for  ready  pay.     This  is  reckoned  in  the  same  manner  as  interest. 

Ex.  1.  A.  purchases  a  bill  of  goods  of  B.,  amounting  to  $756,  at  a  year's  credit,  but  B 
offers  to  deduct  10  pr.  ct.  for  ready  pay.     What  amount  is  to  be  deducted  ? 
^  756x10 =$75,60.     Ans. 

Ex.  2.  A.  sells  B.  a  bill  of  goods  for  $1,200,  and  allows  him  5  pr.  ct.  for  ready  pay 
What  amount  must  A.  receive  ? 

1200  X  5=60,00  discount. 
1200— 60=$1140.     Ans. 

Ex.  3.  B.  purchases  of  A.  goods  amounting  to  $1,800,  and  is  to  be  allowed  a  deduc- 
tion of  5  pr.  ct.  for  Cash.     But  finding  himself  short  of  funds,  pays  $1,140,  for  which  he  . 
is  to  receive  a  discount  off  the  bill,  in  the  same  proportion  as  if  he  had  paid  the  whole 
For  what  Am't  should  he  receive  credit  ? 

It  is  evident  that  he  should  be  credited  for  such  a  sum,  that,  after  making  the  5  pr.  ct 
discount  therefi-om,  the  remainder  will  be  $1,140.   Therefore  95  :  100  : :  1140 :  the  answer 
or,  1140  X  100=114000 -T-95=$1200.     Ans. 

Note. — This  will  be  seen  to  be  the  correct  answer,  by  comparison  with  Ex.  2 :  for  in  that  Ex.  $1,2C0,  Ae  Am't 
of  the  bill,  was  considered  as  cancelled  by  the  payment  of  §1,140.  A  very  common  way  of  worlying  examples  of 
this  kind  is  as  follows :  1 1 40  X  5=57,00+ 1 140=$1,197,  Am't  to  be  credited.  But  this  is  evidently  incorrect ;  fat 
if  $1,140  pays  the  whole  debt  in  Ex.  2,  then  in  this  Ex.  ^1,140  should  pay  an  equivalent  sum. 


By  discounting  off  the  face  of  bills,  losses  are  frequently  sustained  ^vithout  suspecting  it. 
This  arises  from  the  fact  that  the  discount  is  not  only  made  on  the  first  cost  of  the  goods 
but  also  on  the  gains.  For  instance,  if  a  profit  of  30  pr.  ct.  be  made  on  any  article  of 
merchandise,  and  then  10  pr.  ct.  be  deducted,  the  gain,  at  first  sight,  would  appear  to  be 
20  pr.  ct.,  but  is  in  reality  only  17  pr.  ct. :  in  like  manner,  if  60  pr.  ct.  be  added,  and  then 
a  discount  made  of  45  pr.  ct.,  the  apparent  profit  would  be  15  pr.  ct.,  while  the  real  loss  is 
12  pr.  ct.!  !  For  proof,  see  the  following : 


$100 
30 


Cost  of  goods  • 
Add  30  pr.  ct.  profit 

Selling  price  TSO 

Deduct  10  pr.  ct.  disc't     13 

Cash  price 

Gain  17  pr.  ct. 


$117 


Cost 

Profit  60  pr.  ct. 

Sellingprice 
Discount  45  pr.  ct 

Cash  price 

Loss  12  pr.  ct 
271 


$100 
60 


160 
72 


This  deception  will  be 
increased  rapidly  as  the  per- 
centage is  made  larger. 


COMMERCIAL  CALCULATIONS. 

INSURANCE  AND  POLICIES. 

Insurance  is  a  contract  by  which  one  party  engages,  for  a  stipulated  premium,  to  make 
up  a  loss  which  another  may  sustain.  The  premium  paid  is  also  called  insurance,  and  is 
calculated  in  the  same  manner  as  interest. 

Policy  is  the  instrument  by  which  the  contract  is  effected. 

Ex.  1.  What  is  the  insurance  on  $14,650,  at  IJ  pr.  ct.  ? 
14650  X  li  =  $219,75.     Ans. 

Ex.  2.  If  a  policy  be  taken  out  for  $7,500,  at  5  pr.  ct.,  what  net  amount  is  covered, 
ifter  paying  insurance  ? 

7500  X  5= 375,00 :— then  7500-375= $71 25.    Ans. 

Ex.  3.  If  the  premium  is  4  pr.  ct.,  for  what  amount  must  a  policy  be  taken  out  to  cover 
$6,144,  together  with  the  premium  paid  for  insurance.^ 

Note. — ^Thu  question  requires  a  solution  entirely  similar  to  Ex.  3  in  Ditcoimt  on  BUls, 

6144xl00=614400-i-96=$6,400.     Ans. 


COMMISSION  OR  BROKERAGE. 

Commission  or  Brokerage  is  an  allowance  of  a  certain  per-centage  to  factors,  brokers^ 
and  other  agents,  for  their  services  in  buying  and  selling  stocks,  merchandise,  &c.  It  is 
obtained  in  the  same  manner  as  insurance. 

Ex.  A.  sells  for  B.  merchandise  to  the  Am't  of  $16,000,  for  which  B.  allows  him  3  pr. 
ct.  Commission.     How  much  must  he  receive  ? 
16000  X  3= $480,00.     Ans. 


LOSS  AND   GAIN. 

I.  To  ASCERTAIN  WHAT  IS  GAINED  OR  LOST  PER  CENT.  IN  BUYING  AND  SELLING  GOODS. 

Rule.  Find  by  subtraction  the  gain  or  loss  on  the  articles  sold  (either  on  the  whole  amount j 
or  pr.  box,  bale,  y^dy  ^c),  annex  two  cyphers,  and  divide  by  the  purchase  price :  the  quotient 
will  be  tlie  gain  or  loss  per  cent. 

Ex.  1.  If  I  buy  50  Yds.  of  Broad  Cloth  at  $5,25  pr.  Yd.,  and  sell  it  at  $7pr.  Yd., 
what  do  I  gain  pr.  ct.  ? 

7,00 — 5,25=1,75  gain  on  a  Yd. ;  to  which  annex  two  cyphers. 
Then  175,00-^5,25=  33j^  pr.  ct.    Ans. 

Ex.  2.  Bought  1,200  Bbls.  Flour  at  $4  pr.  Bbl.,  and  getting  it  damaged  sold  the  whole 
Cor  $4,000 ;  what  did  I  lose  pr.  ct. } 

1200  X  4= 4800— 4000= $800  total  loss. 
Then  80000 -t- 4800  =16§  loss  pr.  ct.     Ans. 

II.  The   GAIN  OR  LOSS  PER  CENT.  BEING  GIVEN,  TO  ASCERTAIN  THE  WHOLE  GAIN  OR  LOSS 

Also  to  ascertain  at  what  price  merchandise  must  be  sold  to  gain  or  lose  a  stipu 
lated  per  cent. 

Rule.  \st.  Multiply  the  cost  by  the  rate  per  cent.,  and  in  the  product  point  off  two  dec^ 
mat  places.     The  result  toill  be  the  whole  gain  or  loss. 

2T2 


COMMERCIAL  CALCULATIONS. 

semg^irice^,''^'  '"'^'^  *'  ^'  '^'  '''^'  """^  ^"^  ^'''  '^'^"'^  '^  ^^''fi<^^  ^^^  you  wUl  obtain  th^ 

Ex.  1.  If  I  sell  $5,000  worth  of  Mdse.  at  33 J  pr.  ct.  advance,  what  do  I  gain  J» 
5000x33i=$1666,664    Ans. 

on^he  IJfcli?  ^"'^  "'  ^  P'-  ^^^''  ""^'^  "'"^  ^"  °^y  ^^"^^^  P"^^  *°  °^^^  20  pr.  ct 
8x20=1,60  gain  pr.  Bbl.,  and  8+ 1,60= $9,60  pr.  Bbl.     Ans. 

III.    To  ASCERTAIN  AT  WHAT  PRICE  MERCHANDISE  MUST  BE  BOUGHT  IN  ORDER  TO  SELL    IT 
AT  A  STIPULATED  PRICE  AND  MAKE  A  CERTAIN  RATE  PER  CENT. 

Rule.  Annex  two  cyphers  to  the  selling  pnce,  and  divide  by  one  hundred  increased  by  the 
rate  per  cent. ,  and  the  quotient  will  be  tJie  purchase  price.  '      ^ncreasea  oy  me 

«.w  •  ^'  i'^"  ^''''^^  ^"^  l^^  ^""'^  ^^  ^^^^  ^^^^^  includes  10  pr.  ct.  on  the  prime  cost 
what  was  the  prime  cost  ?  ^  prime  cow, 

800,  annex  two  c^-phers,  80000-^1 10= $727,27^3_     Ans. 

mu?i.eV;Vihafe  ^e^"  ''  ^''''  ^''  '"^  '""''^  and  thereby  make  15  pr.  ct,  what 
75000-.115=$6^52^^220Ibs.    Ans. 


'  EQUATION  OF  PAYMENTS. 

The  object  of  Equation  of  payments  is  to  find  the  medium  or  average  time  for  the  par 
raent  of  several  sums  of  different  dates,  or  different  terms  of  credit,  or  both. 
Rule  I.    When  the  sums  are  of  the  same  date,  but  having  diferent  terms  of  credit 
Multiply  each  sum  respectively  by  tJie  time  it  has  to  run,  and  divide  the  sum  of  the  several 
products  obtained  by  the  whole  debt :  the  quotient  will  be  the  averaged  time  of  credit 

/  •'^- PJjr^^ases  of  B.  goods  amounting  to  $1,025,  payable  as  follows— $200  in  3 
months ;  $360  m  4  months  ;  $300  in  5  months  ;  and  $165  in  6  months :  but  concludes  to 
give  one  note  for  the  whole.     At  what  time  shall  it  be  made  payable  > 


AmX 

200 
360 
300 
165 


X 
X 
X 
X 


Time. 

3 

4 

5 
6 


Product. 

600 
1440 
1500 

990 


1025)  4530  (4  12j%%% 

4100  4  mos.  13  d's.     Ans. 


430 
30 


$1025 


4530 


12900 
1025 

2650 
2050 

600 


Rule  II.  Multiply  each  respective  sum  by  the  time  intervening  between  the  date  wlum  iU 

FTRST  amx)unt  falls  due,  and  the  date  on  which  each  sum  falls  due.     Divide  the  sumTrdl 

several  products  by  the  whole  debt,  and  the  quotient  wUl  ie  the  average  time  of  n^t  u 

be  counted  forward  from  the  date  of  the  first  amount  falling  due  ^  J^IP^U  to 

2  K  273 


r-. 


COMMERCIAL  CALCULATIONS. 

Ex.  A  owes  b!  $2,000,  for  purchases  at  different  dates,  and  on  various  credits,  as  below 
«itated.     Required  the  equated  time  for  the  payment  of  the  whole  debt. 


Date  of  purchase. 

Jan.     16    -    -  - 

"      24    -    -  - 

Feb.      1     .    -  - 

«       15    -    -  - 


Statement  from  Book  Ac't. 

Amount.  Time  of  Cr. 

$300  -  -  -  3  mos.  - 

500  -  -  -  2  " 

250  -  -  -  4  " 

350  -  -  -  3  "   - 


March  8  .  -  -   600  -  -  -  4 


u 


Due. 
March  24 
April    16 
May 
June 
July 


15 
1 
8 


Statement  arranged  as  an  equation. 

Amount  Time  (in  days.) 

500  X  00  = 

300  X  23  — 

350  X  52  — 

250  X  69  — 

600  X  106  — 


When  due. 
April  16. 
March  24. 
June  1 . 
May  15. 
July      8. 


Product 

0000 

6900 

18200 

17250 

63600 


$2000    ^ 
Then  53  days  from  March  24,  is  May  16.     Ans. 


)  105950  (52 J  Jf  J  days. 


Rule  III.  Multiply  each  sum  respectively  by  the  time  intervening  between  the  date  mi  winch 
it  falls  due  and  the  date  on  which  the  last  amount  falls  due.  Divide  the  sum  of  the  several 
products  by  tJw  whole  debt,  and  Vie  quotient  will  be  the  equated  time,  to  be  counted  backward 
from  the  date  of  the  last  amount  falling  due. 

Ex.  Suppose  I  purchase  o;oods  at  sundry  times  as  follows : 
Jan.    5   a  bill  of  $376,40  on  a  credit  of    6  months. 
Jan.  15  "  "    "     125,75  "  "     ''      "     3      " 
Feb.    1   "  ''    "     295,25  "  "     "      "   60  days. 

I^Iar.    2   "  "    "     325,00  no  credit :  and  on  making  the  last  purchase  wish  to  give 
my  note  for  the  whole.     When  must  it  be  made  payable  ? 


Statement  as  an  equation. 


Due. 

July  5 
April  15 
April  2 
March  2 


Amount 

Days. 

376* 

X 

00 

126 

X 

81 

295 

X 

94 

325 

X 

125 

Product 

0000 
10206 
27730 
40625 


$1122 


)  78561  (70^1^^  days. 


Then  70  days  backward  from  July  5  is  April  26.     Ans. 


Rule  IV.  By  Interest.  Calculate  the  interest  on  each  sum  respectively  for  the  same 
time  that  you  would  multiply  it  by  in  working  by  the  preceding  rules.  Sum  up  the  several 
items  of  interest  obtained,  and  find  hoio  long  it  will  take  for  the  lohole  debt  to  acacmulate 
that  amount  of  interest :  the  result  will  be  the  equated  time,  to  be  counted  forward  or  back- 
ward, according  to  the  day  from  which  you  reckon, 

Note.— To  show  that  this  produces  the  same  answer  as  the  preceding  rules,  we  will  take  the  three  example* 
■ircatly  given,  working  the  first  at  5  pr.  ct  interest,  the  second  at  7  pr.  ct,  and  the  third  at  6  pr.  ct. 


•  In  working  this  equation  we  have  omitted  the  cents  when  less  than  fiHy,  and  when  more  than  fifty  called  them  a  dollar 
This  will  usually  be  found  sufficiently  exact.  c%n  A 

274 


Amonnt 

$200 

360 

300 

165 

$1025 


Months. 

-  .  3 
.  -  4 

-  -  5 

-  -  6 


COMMERCIAL  CALCULATIONS 

1.  Example  given  under  Rule  I. 

Int  ®  5  per  ct 


-  2,50 

-  6,00 

-  6,25 

■    4,12,5 

$18,87,5 


Int.  on  $1025  one  mo.  is  $4,27,1 

Then  18,87,5-4-4,27,1 =41; »4  mos.  or 
4  mos.  13  days.     Ans.  as  by  Rule  L 


Cue. 

March  24 
April   16 
May 
June 
July 


15 
1 
8 


2.  Example  given  under  Rule  11. 

Days.  Int  0  7  per  ct 

-  00  -  -         0000 

-  23  -  -     1,34,2 

-  52  .  .     3,53,9 

-  69  .  .     3,35,4 

-  106  -  -  12,36,7 


to  gain  $20,60,2  Int.  it  requires  53  days  (nearlv.) 


Amount 

-  .  500  - 
.  -  300  - 
.  -  350  - 

-  -  250  - 

-  -  600  . 

For  $2000 

Then  53  days  from  March  24  is  May  16.   ^Ansf  as  byRuirn 

3.  Example  given  under  Rule  III. 
Days.  Int  9  6  per  ct 

-  00    -    -      0000 

-  81     -    -     1,70,1 

-  94    -    -    4,62,2 

-  125    -    -    6,77,1 

For  $1122  to  gain     $13,09,4  Int.  70  d's  are  required  (fraction  omitted  ) 

70  days  backward  from  July  5  is  April  26.     Ans.  as  by  Rule  III. 


Dm. 

Amount 

July       5 

-    -     376 

April  15 

-     -     126 

April     2 

.     .     295 

March   2 

-     -     325 

REiiAKKs.— In  all  the  prcrr ding  rules  we  have  reckoned  the  time  from  the  date  either  of  the  first  «-  uk 
pilhng  due ;  but  any  other  time  previous  to  the  first  date,  or  succeeding  the  last,  may  be  chosen  if  prefefwd.  abhl 
in  the  Ex.  given  tmder  Rule  II.  we  might  with  equal  propriety  have  reckoned  the  time  from  Maivh  1st,  in  wCrfi 
case  there  would  have  been  24  days'  time  for  the  first  item,  and  the  others  increased  proportionallv :  then,  in  the 
result,  the  number  of  days  obtained  would  have  been  counted  forward  from  March  1st  -  -^ 

When  there  are  a  great  number  of  small  items  to  be  equated,  all  those  which  fell  due  in  one  month  are  frp. 
quently  summed  up  together  and  called  due  on  the  first  of  next  month. 

The  days  of  grace  (which  are  now  almost  universally  allowed)  may  be  added  to  the  time  of  each  item  to  ha 
equated,  or  the  equation  may  be  first  worked,  and  then  the  atUition  of  grace  made.  The  latter  mode  ia  modi  Am 
easiest,  and  produces  the  same  result 


COMPOUND  EQUATION. 

By  Compound  equation  we  ascertain  al  what  time  the  balance  of  an  account  that  con 
tjuns  both  debits  and  credits  becomes  due. 

Rule  I.  First  find  by  simple  equation  the  averaged  time  when  the  debits  cmd  credit 
of  the  account  fall  due,  without  regard  to  their  relation  to  each  other.     Then  multiply  the 
sm/iUer  side  of  the  account,  (whether  it  be  the  debit  or  credit,)  by  the  number  of  days  betwcem 
the  days  of  equated  time  obtained,  and  divide  the  product  by  the  balance  of  the  account:  the 
quotient  will  be  tJie  time  required  for  calculation.     If  the  earlier  date  of  equated  time  be 

275 


affixed  to  the 
date  ;  hut  if 
LATER  date, 
Ex.  1.  I 
stated — and 

Date. 

Jan.    4,  - 

Feb.    1,  - 

"    15,  - 

Mar.   2,  - 


COMMERCIAL  CALCULATIONS. 

LARGER  side,  {whether  debit  or  credit,)  count  the  time  back  frmn  the  earltek 
the  LATER  date  he  affixed  to  the  larger  side,  count  the  time  forward  frcym  the 
and  you  will  ohtain  the  day  on  which  the  halance  hecojjies  due, 
have  an  ac't  with  Samuel  Wells — Am'ts  and  times  of  payment  as  below 
wish  to  know  the  equated  time  when  the  balance  shall  be  paid. 


Time  to  run.  Due. 

2  mos.  -  Mar.    4, 

30d's.    -     " 

2  mos.  -  Apr. 
2    «     .     u 


3, 
15, 

2, 


Amount 

$250 
140 
450 
100 


Total  debits    $940 


Date. 

Jan.    1, 

"     20, 

Feb.  8, 

Mar.  4, 

"   25. 


Time  to  run.  Due.  Amount 

6  mos.  -  July     1,  -    $500 

60  d's.    -  Mar.  21,  -      200 

30d's.    -     "      10,  -      350 

3  mos.  -  June    4,  -      240 

2    "     -  May  25,  -      120 

Total  credits  $1,410 


Due. 

Mar.    4, 

"       3, 

Apr.  15, 

2, 


(( 


Amount 
250 
140 
450 
100 


X 
X 
X 
X 


Days. 
1 
0 

43 
30 


Mode  of  operation. 

Due. 


Product 
250 
000 

19350 
3000 


$940 


22600 


July  1, 
Mar.  21, 
"  10, 
June  4, 
May  25, 


Amount 

500 
200 
350 
240 
120 

$1,410 


X 
X 
X 
X 
X 


Dayt. 

113 
11 
00 
86 
76 


Product 
56500 

2200 

0000 

20640 

9120 

88460 


1410)  88460  (62|of,  63  days  from  Mar.  10. 
$1410  due  May  12. 


940)  22600  (24^\,  24  days  from  Mar.  3  is 
Mar.  27. 

$940  due  Mar.  27. 

From  Mar.  27,  to  May  12,  is  46  days. 

Credits        1410  )  Smaller  side.   Days.  Bal. 

Debits         940  (        940    x   46=43240-5-470=92  days,  which,  counted  forward  from 

"I^:;^  \  May  12,  bring  us  to  Aug.  12.     Ans. 

Balance    $470)  "^  ^  ^ 


Ex.  2.  What  is  the  equated  time  of  payment  for  the  Bal.  of  the  following  ac't. 


Date. 
Jan.  1, 
Feb.  20, 
Apr.  5, 
May   4, 


Time. 

6  mos. 
4    " 
3    " 


when  due. 

-  July     1, 

-  June  20, 

-  July    5, 
May    4, 

Total  debits 


Amount 

150 
260 
325 
550 


$1,285 


Date. 

Mar.  8, 
Apr.  3, 
May  6, 
Aug.  2, 


Time. 

2  mos. 

3  mos. 
30  d's. 
30   " 


When  due. 

May    8, 
July 
June 
Sept. 


3, 
5, 
1, 


Amount 

150 
340 
420 
170 


^ 


Total  credits      $1,080 


Mode  of  operation. 


Due. 

July  1, 
June  20, 
July  5, 
May    4, 


Amount 
150 
260 
325 
550 


Days.       Int  £»  6  pr.  et 


58      . 

.      1,45,0 

47      . 

.      2,03,7 

62      . 

.      3,35,8 

00     . 

.      0,00,0 

Due. 

May 
July 
June 
Sept. 


8, 
3, 
5, 
1, 


Amount 

150 
340 
420 
170 


For 


$1,080 
interest,  it  requires  46|^  days. 
47  days  from  May  8  is  June  24. 
$1080  due  June  24. 


Days.      Int  9  6  pr.  ct 

00  .  0,00,0 

56  -  3,17,3 

28  .  1,96,0 

116  -  3^,7 

to  gain   $8,42,0 


For    $1,285  to  gain    $6,84,5 

interest,  it  requires  31|||  days. 
32  days  from  May  4  is  June  5. 
$1285  due  June  5. 

From  June  5,  to  June  24,  is  19  days. 

Debit    1285  ")  Smaller  side.   Day*.  Bal. 

Credit  1080  C      1080   x    19=20520h-205=100jVt  ;  100  days  backward  from  June 

..  ,     "TTTT  C  ^  gi^^e  Feb.  25.     Ans. 

Bal       $205)  ^      == 

276 


COMMERCIAL  CALCULATIONS. 

^^f'f'  II-  5^%/y  cacA  sum  respectively  by  the  tim^  intervening  between  the  daU  of  the 
first  amount  falling  due  and  the  date  on  which  said  sum  falls  d^  Find  the  sum  of  tkt 
Tlrat'%  ^^7;^-;^-  ^^%^^  f  ^  ^nd  also  Ithl^TdU  si^-JL^Z:Jr^ 

both  fall  on  the  same  side  of  the  account,  {i.  e.  both  on  the  debit  or  both  on  the  credHde) 
reckon  this  tvn^  forward  from  the  date  on  which  the  first  amount  becomes  L;bTifthi 
fall  (m  OPPOSITE  sides  {i.  e,  one  on  the  debit,  and  the  other  on  the  credit,)  reckon  i/ b.c^ 

''ni/Ze  l^'ZtJl^Ldtl^^^^^   ^^"' '"- ^''  '''''"^ ^-^'^  ^'-- 

NoTK.— We  give  below  the  same  examples  as  are  given  to  the  preceding  rule. 


Due. 

Mar.    4, 
"       3, 
Apr.  15, 
2, 


(( 


Amount 

250 
140 
450 
100 


X 

X 
X 
X 


Days. 
1 

0 
43 
30 


Example  1. 


Product 

250 

000 

19350 

3000 


22600 


$940 

470)75730(1611^ 
161  days  counted  forward  from  Mar.  3  give 
for  the  equated  time,  Aug.  11.     Ans.* 


Due. 
July  1, 
Mar.  21, 
"  10, 
June  4, 
May  25, 


Due. 
July     1, 
June  20, 
July    5, 
May    4, 


Amount 
150 
260 
325 
550 


Days. 

*  58 

47 

00 


$1,285 


Int  0  6  pr.  ct 
-        1,45,0 

•  2,03,7 
■      3,35,8 

•  0,00,0 


Example  2. 


Due. 

May    8, 
July 
June 
Sept. 


3, 
5, 
1, 


Amount 

-  500 

-  200 

-  350 

-  240 

-  120 

$1,410 
940 

$470 

Amoimt 

-  150 

-  340 
.  420 

-  170 


X 
X 
X 
X 
X 


Days. 

120 

18 

7 

93 

83 


Days. 
4 

60 

32 

120 


$1,080 


$6,84,5,  ^., 

1^    For  $205  to  gain  $2,29,5  Int.  it  requires  67x^  days. 
$205    67  days  backward  from  May  4,  is  Feb.  26.     Ans.* 


Product. 
=  60000 
=  3600 
=  2450 
=  22320 
=       9960 

98330 
22600 

.      75730 

Int  •  6  pr.  et 

■  ,10,0 

-  3,40,0 
•  2,24,0 

-  3,40,0 

$9,14,0 
6,84,5 

§2,29,5 


EQUATION  APPLIED  TO  THE  STOBAGE  OF  PROPERTY. 


Formula  1. 
Received  and  delivered   on  ac't  of 
S.  B.  &  Co.,  sundry  parcels  of 
flour,  as  follows : 

Bbls.  Days.       Prod. 

Jan.  22,  Received    125x9  =1125 
"    31,  Received  1000 

1125x1  =1125 
Feb.    1,  Delivered   545 

580x14=8120 
15,  Delivered   312 

268  X   3=  804 
18,  Received   420 

"688^  7=4816 
25,  Delivered  258 


<c 


(( 


(« 


Formula  2. 

Am'ts  received    and   delivered   the 
formula  1. 

Received. 

Bbls.    Days.      Prod 

Jan.22,  125x37=   4625 
"  31,1000x28=2800 
Febl8,  420  x  10=  420 


same   as  m 


1545 


36825 
19545 


3,0)  1728^0 


576 


Delivered. 

Bbk.  Davs.        ProJ. 
Feb.  1,545x27^14715 
"    15,312x13=  4056 
"    25,  258  X    3=     774 
"    28,  220  X   0=     000 


1335 


19545 


430  X   3=1290 
28,  Delivered  220  3,0)1728^0 
Balance  in  Store         210  576 


tK 


Accordmg  to  the  above  statements  there  were  re- 
ceived 1545  Bbls.  from  Jan.  22,  to  Feb.  28,  and 
during  the  same  time  1335  Bbls.  were  delivered 
leavmg  still  in  store  210  Bbls.  ' 

{ConHmud.) 


•  Tae  .u.at  Oi.cr.nce.  tn  U»e  answer,  obtained  by  tlU.  «.d  U,e  Precgin|r  rule  a«  occasioned  by  U«  fraction.  Uurt  ocai  to  woriun,  by  B,..  C 


"h^^ 


I     PiZ  ■■  > 


COMMERCIAL  CALCULATIONS. 

In  formula  1,  we  multiply  the  number  of  Bbls.  by  the  days  they  are  in  store,  and  add 
the  several  products  together,  which  produces  17280,  the  number  of  Bbls.  on  which 
storage  should  be  charged  for  one  day ;  then  this  divided  by  30  gives  576,  the  number 
on  which  to  charge  storage  for  one  month. 

In  formula  2,  we  multiply  the  number  of  Bbls.  received  and  the  number  delivered, 
(each  separately,)  by  the  days  from  the  time  of  reception  or  delivery,  to  the  time  the 
average  closes,  (Feb.  28,)  and  subtract  the  sums  of  the  products,  which  produces  17280. 
the  same  as  before. 


£  a. 

d. 

1   0 

0 

15 

0 

10 

0 

5 

0 

2 

6 

1 

3 

EXCHANGE  ON  GREAT  BRITAIN. 

Table  showing  the  nominal  par  value  of  sterling  money. 


$ 

cte. 

m. 

a.  d. 

4, 

44, 

444 

1   0 

3, 

33, 

33 

9 

2, 

22, 

22 

6 

1, 

11, 

11 

3 

55, 

56 

2 

27, 

78 

1 

$ 

(te 

in. 

0, 

22, 

22 

16, 

67 

11, 

11 

.5, 

56 

3, 

70 

■ 

1, 

85 

I.    To  REDUCE  STERLING  TO  ITS  NOMINAL  PAR  VALUE  IN  FEDERAL  MONEY. 

Rule  I.  Brifig  the  shillings  and  pence  to  tite  decimal  of  a  pound,  and  annex  them  to  the 
pounds  ;  then  multiply  by  40  {the  sixpences  in  a  pound)  and  diinde  by  9  {the  sixpences  in  a 
dollar) :  the  quotient  will  be  the  answer  in  dollars  and  decimals  of  a  dollar. 

Rule  IL  Find  the  number  of  sixpences  in  the  shillings  and  pence,  and,  after  multiplying 
the  pounds  by  40,  add  them  to  the  product,  and  divide  by  9  ;  then  get  the  value  of  the  odd 
pence  separately,  and  add  it  to  this  quotient, 

Ex.  1.  What  is  the  nominal  par  value  in  federal  money  of  jei872  lis.  5d.  ? 


1st  method. 


12 

2,0 


5,00000 


11,4166,6 


1872,57083 
40 

9)  74902,83320 
$8322,53f/^V 


Ans. 


2d  method. 
1872 
40 


74880 

22  sixpences=lls. 


9)74902 


8322,44,44 

9,26 =5d. 

$8322,53-rVy  Ans. 


NoTX. — ^To  obtain  the  real  value,  the  premium  of  exchange  at  the  time  of  reckoning  must  be  added. 

Ex.  2.  What  is  the  value  in  federal  money  of  a  bill  of  exchange  for  je879,  133.  lOd., 
*hen  the  rate  of  exchange  is  9  pr.  ct.  premium  on  sterling  money? 


12 
2,0 


10,000 


13,833 


879,6916 
40 

9)  35187,6640 

"3909,74,04  par  value. 

9  pr.  ct.  prem. 

351,876636 
3909,7404 

$4261,6lTV>r  Ans, 


278 


879 
40 

35160 

27  sixpencesa=13s.  6d 

9)  35187 

3909,66,66 

7,41=4d. 

3909,74,07  par  value. 
351 ,87.66  add  prem. at  9  pr.ct. 

$4261,6lTVy  Ans. 


COMMERCIAL  CALCULATIONS. 

II.    To  REDUCE  FEDERAL  TO  ITS  NOMINAL  PAR  VALUE  IN  STERLING  MONEY. 

Rule.  Multiply  by  9  {the  sixpences  in  a  dollar)  and  divide  the  product  by  40,  {the  stx- 
pences  in  a  pound,)  and  the  quotient  will  be  the  answer  in  pounds,  and  decimals  of  a  pound ^ 
which  reduce  to  shillings  and  penca, 

Ex.  1.  What  is  the  nominal  par  value  in  sterling  money  of  $8,322,54? 

8322,54  jei872,571 

9  20 


4,0)  74902,8,6 
jei872,571 


s.  11,420 
12 

d.    5,040  .£1872,  lis.  5d.    Ans. 


Note. — The  real  value  is  as  much  less  than  the  nominal  par  value  as  the  premium  of  exchange  at  the  time. 
Ex.  2.  The  net  proceeds  of  a  sale  amount  to  §4,261,62,  which  a  factor  wishes  to  remit 
to  his  consignor  in  England.     For  what  amount  will  the  bill  of  exchange  be  drawn,  pav- 
ing 9  pr.  ct.  premium  on  the  same  ? 

4261,62  109  :  100  : :  958,8645 

9  100 


4,0)  38354,5,8 
par  value     je958,8645 


109)  95886,4500 

je879,6922:iX879,l3s.  lOd.    Ans. 


■■*  :i 


INDIRECT  EXCHANGE.      • 

Owing  to  the  difference  in  the  rates  of  exchange  between  different  countries,  it  is  fre- 
quently more  advantageous  for  a  person  wishing  to  remit  funds  to  any  foreign  country,  to 
purchase  a  bill  on  some  other  place,  and  direct  his  agent  there  to  invest  the  proceeds  in 
bills  on  the  place  to  which  he  wishes  to  make  the  remittance.  This  is  called  indirect 
exchange,  or  arbitration  of  exchange,  and  will  be  readily  comprehended  by  the  foUowin*' 
examples :  '  ^ 

Ex.  1.  Suppose  the  exchange  of  Philadelphia  on  London  to  be  10  pr.  ct  premium,  of 
Do.  on  Hamburg  35.^  cents  pr.  marc  banco,  and  of  Hamburg  on  London  13.V  marcs 
banco  pr.  pound  sterling,  and  a  merchant  wishes  to  remit  ^65,000  to  London.  How  much 
would  he  gain  by  an  indirect  remittance  through  Hamburg,  if  his  agent  at  that  place 
charge  J  pr.  ct.  commission  for  procuring  the  bill  on  London. 

Direct  to  London. 


5000 
40 

9) 200000 

$22222,22,2  par. 

2222,22,2  prem.  @  10  pr.  ct. 

$24444,44,4 


To  London  through  Hamburg. 

£      m.b.pr.je  • 

5000  X  13^=67500  marcs  banco 

337,5  Com.  @  J  pr  ct. 

67837,5 
Then 

m.  b.     cts.  pr.  m.  b. 

67837,5  X  35 J =$24082,31, 2 


Cost  of  direct  exchange         $24444,44,4 
"     "  indirect     "  24082,31,2 


Ans.     $362,13,2 


Ex.  2.  An  agent  in  Havana  (Cuba)  wishes  to  remit  to  his  principal,  in  Paris,  tlic 
'Dount  of  funds  in  his  possession,  $4,000.     How^  much  more  will  the  principal  receive 

279 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT. 

(after  the  expenses  of  exchange  have  been  deducted)  by  an  indirect  remittance  througn 
New  York,  than  by  a  bill  direct  on  Paris ;  provided  1  dollar  Havana  currency  be  equal  to 
5  francs,  and  the  exchange  of  Havana  on  Paris  be  1  pr.  ct.  prem.,  of  Do.  on  New  York 
4  pr.  ct.  prem.,  and  of  New  York  on  Paris  5  francs  30  centimes  pr.  dollar,  and  the  agents 
in  Havana  and  New  York  each  be  allowed  ^  pr.  ct.  com.  for  doing  the  business  ? 

To  Paris  direct. 


To  Paris  through  New  York. 
$4000  Havana  cur. 

20  agent's  com.  at  Hav. 

3980 
153,08  prem.  at  4  pr.  ct. 

$3826,92  am't  of  bill  on  N.  Y. 
19,13  agent's  com.  at  N.  Y. 

3807,79 

5,30  francs  pr.  dollar. 


$4000  Havana  cur. 

20  agent's  com.  at  Hav. 

3980 
5  francs  pr.  dollar. 


11423370 
1903895 


Francs  20181,2870  am't  of  bill  on  Paris. 


19900 

197,03  prem.  at  1  pr.  ct. 

Francs  19702,97  am't  of  bill  on  Paris. 


Francs  20181,29  am't  rec'd.  via  N.  York. 
"       19702,97     "       *«       direct. 


478,32    Ans. 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT/ 

Moneys  of  Account  are  those  denominations  of  money  in  which  accounts  are  kept,  and 
sales  and  purchases  usually  effected.  In  general,  money  of  account  is  represented  by  coin 
of  the  countr}-,  bearing  the  same  name  and  equal  in  value  with  it;  but  in  some  few  cases 
it  is  fictitious,  that  is,  not  represented  by  any  coin  of  the  country  of  corresponding  name 
or  value  ;  and  in  other  cases,  of  more  frequent  occurrence,  it  is  (owing  to  excessive  issues 
of  paper  currency)  depreciated  in  value  much  below  that  of  the  coin  of  the  same  name. 

The  subjoined  table  exhibits  the  moneys  of  account  of  the  principal  commercial  nations 
of  tlie  world.  In  every  case  where  the  money  of  account  is  represented  by  coin  of  equal 
value,  the  intrinsic  value  of  the  principal  coin  is  given,  estimated  according  to  the  United 
States  Mint  valuation  of  the  metal  (gold  or  silver)  of  which  the  coin  is  made ;  and  an 
approximate  value  is  given  when  the  money  of  account  is  fictitious,  or  represented  by  a 
depreciated  paper  currency. 

The  valuation  of  foreign  moneys  by  comparison  of  the  quantity  of  pure  gold  or  silver 
in  their  coins,  with  the  quantity  of  these  metals  in  the  coins  of  our  country,  gives  the  real 
par  of  exchange  between  the  United  States  and  these  countries.  Different"  results  will, 
however,  frequently  be  arrived  at  by  comparing  respectively  the  gold  and  silver  coinages 
of  two  countries,  inasmuch  as  the  relative  values  of  gold  and  silver  at  their  mints  are 
various.  Thus,  the  Louis  d'or,  or  French  20  franc  piece,  of  gold,  containing  89.55  giains 
of  pure  gold,  and  the  United  States  Eagle,  or  gold  piece  of  ten  dollars,  containing  232.2 
grains  of  pure  gold,  the  Louis  d'or  is  worth,  in  the  currency  of  the  United  States,  $3.85.64, 
and  1  franc  of  gold  is  worth  19.282  cents. — 20  francs  of  silver,  containing  1386  grains  of 
pure  silver,  and  10  silver  dollars  of  the  United  States,  containing  3712.5  grains  of  pure 
silver,  1  franc  of  silver  is  worth,  in  the  currency  of  the  United  States,  18J  cents.  There 
is,  therefore,  a  difference  between  the  relative  values  of  gold  and  silver  in  the  two  coun- 
tries, of  about  3.3  per  cent. 

Where  both  of  the  precious  metals  are  used  for  the  current  coins  of  two  countries,  the 

♦  For  thia  artlcl*  on  Foreign  Coins  and  Moneys  of  Account,  which   I  believe  to  he  more  full  and  correct  than  any  previounl* 
published  ir  this  country,  I   am  indebted  to  W.  Vogdes,  Esq.,  Prnfesanr  of  Mathematics  in  the  Central  High  School  of  Phil* 
Itlphia,  and  author  of  the  United  Btateb  Arithmetic,  for  which  work  it  was  prepared. 

280 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT. 

real  par  of  exchange  may  be  said  to  range  between  the  two  values  of  their  monev-s  esti- 
mated by  comparmg  respectively  their  gold  and  silver  coinages.  The  most  advantageous 
mode  of  hquidatmg  mdebtedness  will,  of  course,  always  be  chosen ;  and  in  case  of  tl.c 
indebtedness  of  the  one  country,  a  remittance  will  be  made  in  gold,  or  should  the 
other  country  be  the  debtor,  the  remittance  will  be  in  silver 

In -England,  the  country  with  which  the  United  States  have  the  most  extensive  con.- 
mercial  transactions,  the  relative  Mint  valuation  of  silver  to  gold  is  not  based  upon  the 
market  values  of  the  precious  metals ;  but  silver  is  over-valued  in  order  to  keep  this  coina-e 
from  being  sent  abroad :  at  the  same  time  it  is  only  designed  to  serve  the  pumose  of  snilu 
change,  being  a  lega  tender  for  the  payment  of  debts  to  the  amount  of  only  £2  stV 
In  estimating  the  real  par  of  exchange  with  England,  we  have,  therefore,  to  compare  onK 
the  gold  comages  of  the  two  countries,  which  comparison  gives  ^4.86  for  the  value  of  the 
Sovereign  or  Pound  SterHng.  The  nominal  par  of  exchange  ($44)  between  these  two 
countries  is  retained,  m  quoting  rates  of  exchange,  simply  because  it  is  difficult  to  effect  a 
change  m  the  customs  of  nations  or  communities,  even  though  such  a  chancre  may  be  of 
undoubted  utility.  •  °  ^         .7  *^  «* 

UNITED  KINGDOM  OF  GREAT  BRITAIN  AND  IRELAND. 

Accounts  are  kept  in  pounds,  shillings,  pence,  2u^d  farthings.     Prices  of  articles  are 
also  not  unfrequently  quoted  m  guineas. 

4  farthings  (qr)=  1  penny   (d)  12  pence       =  1  shiUing,  (s) 

20  shillings         =1  pound  sterling,  (.£  stg.)   21  shillings  =1  guinea,  (rr) 
The  sovereign,  or  pound  stg.  m  gold,  is  worth  $4.86  United  States  currenc\^     This  is 
the  true  par  of  exchange ;  the  nominal  par  is  $4^,  which  was  established  many  years  ago. 

FRANCE. 

Accounts  are  kept  in  francs  and  centimes,     100  centimes  (c)=l  franc  (f) 
I  he  franc  m  silver  is  worth  18f  cts.  United  States  currency. 

BELGIUM. 

Accounts  are  kept  in  florins  or  guilders,  and  centimes  or  hundredths. 

1  he  florin,  in  silver  is  worth  a  trifle  over  40  cts.  United  States  currency. 

The  comage  of  Belgium,  since  1832,  has  been  similar,  in  name  and  value,  to  that  of 

HOLLAND. 

Moneys  of  account  same  as  in  Belgium. 

Bremen. 
Accounts  are  kept  in  current  rix-dollars,  grotes,  and  schwares 

ThfnTr''l\i^'f  "i  ^^^'qi'^^^  ""^  i^°"'.'  current=71^  cts.  United  States  currency 
The  old  rix-doUar  (silver) =8 1.45  cts.,  that  since  1840=71  4  cts.  United  States  currencj. 

Hamburg. 
of  "  lXcV"!  ^^^*  '"  '^''''  ''^'  ""'  schillings,  and  pfenings,  currency  or  lubs,  (meaning 
12  pfenings=  1  schilling,  16  schillings=  1  marc. 

The  marc  lubs  ov  currency,  which  is  a  silver  coin,=28^  cts.  United  States  currcncr 
Ihe  marc  6a7ico  which  is  an  imaginary  money,  based  upon  certificates  of  deposit  of 
bulhon  and  jewelry  m  the  bank  of  Hamburg,  fluctuates  2  or  3  per  cent,  above  or  beloTF 
Its  par  value,  which  is  23  per  cent,  more  than  the  marc  currency,  or  about  35  cts  Unit^nl 
States  currency.  *  ^"""* 

Accounts  are  also  someUmes  kept,  particularly  in  exchanges,  in  pounds,  schilling  and 
pence,  Flemish.  ^  j  ©  ,  «*»- 

12  grotes  or  pence=l  schilling  20  schillings=l  pound 

„  T  1  pound  Flemish,  banco=  7^  marcs  banco. 

2  1^  281      . 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT. 


DENMARK. 


Accounts  are  kept  in  rix-dollars,  marcs,  and  skillings. 

16  skillings==l  marc,  6  marcs=»l  rix-dollar. 

The  new  rix-dollar,  or  rigsbank  dollar  (silver)  is  worth  about  52^  cts.  United  States 
currency.  The  money  used  in  commercial  transactions  is  bank  money,  which  is  commonly 
at  a  heavy  discount. 


NORWAY. 

Accounts  are  kept  in  rix-dollars  species  and  skillings. 

120  skillings=l  rix-dollar  species. 
Value  of  the  species  dollar  (silver)  in  United  States  currency  $1.05 


gold  coinage. 


Norway  has  no 


SWEDEN. 


The  currency  of  Sweden  consists  almost  entirely  of  paper  money,  of  which  there  are 
two  descriptions,  the  one  issued  by  the  government  bank,  called  riksgald,  the  other  issued 
by  the  national  bank,  called  banco,  the  latter  being  worth  50  per  cent,  more  than  the 
Ibrraer. 

Accounts  are  kept  in  rix-dollars,  skillings,  and  rundstycks,  either  riksgald,  or  banco. 
12  rundstycks=l  skillin^,  48  skillings=l  rix-dollar. 

The  value  of  the  specie  dollar  (silver)  or  coin  of  the  realm,  in  the  currency  of  the 
United  States,  is  $1.06+  :  that  of  the  paper  money  fluctuates,  but  may  be  said  to  be,  of 
the  rix-'dollar  banco  37J  cts. ;  of  the  rix-doUar  riksgald  25  cts. 

RUSSIA. 

Prior  to  the  year  1840,  accounts  were  kept  in  paper  roubles,  3.V  of  which  were  equal  to 
1  silver  rouble  :  from  that  period  the  silver  rouble,  and  the  copec  o"f  one  hundredth  part  its 
value,  have  been  adopted  by  law  as  the  moneys  of  account. 

Value  of  the  silver  rouble  in  the  currency  of  the  United  States,  75  + cts. 

PRUSSIA. 

Accounts  are  kept  in  thalers  or  dollars,  silver  grochen,  and  pfenings, 

12  pfenings==l  silver  grosch,  30  silver  grochen=l  dollar. 

The  value  of  the  dollar  (silver)  in  the  currency  of  the  United  States,  is  69  + cts. 

AUSTRIA. 

Accounts  are  kept  in  Jlorins  and  kreutzers.     60  kr.  =  l  florin. 

The  florin  (silver)  is  worth,  in  the  currency  of  the  United  States,  48J  cts. 

Venice. 

Accounts  are  kept  in  lire  divided  into  100  centesimi.     These  are  imaginary  moneys,  of 
the  value  of  the  French  franc  and  centime  respectively. 

SARDINIA. 

Accoun^«!  are  kept  in  lire  and  centesimi  or  hundredths ;  corresponding  in  value  with  the 
French  franc  and  centime  respectively. 

The  gold  and  silver  coinages  also  correspond  in  value  with  those  of  France;  diflerinL' 
only  in  name.  •  ° 

TUSCANY. 

Accounts  are  generaUy  kept  in  pezze  (or  dollars)  of  8  rials,  soldi  di  pezza  and  denar% 
di  pezza. 

12  denari  di  pezza=l  soldo  di  pezza,        20  soldi  di  pezza==l  pezza  of  8  rials. 
But  for  transactions  of  small  amount,  accounts  are  kept  in  lire,  soldi,  and  denari. 

12  denari=l  soldo,  20  soldi=l  lira, 

5i  lire=l  pezza  of  8  rials  (silver)=90  +  cts.,  currency  of  the  United  States. 

282 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT. 

PAPAL  STATES. 

Accounts  are  kept  m  scudi  (or  crowns)  and  bajocchi. 

100  bajocchi,  or  10  paoh=l  scudo  (silver)=$1.00.6  currency  of  the  United  States. 
Payments  of  greater  amount  than  5  scudi -are  made  in  paper  money,  which,  not  being 
redeemable  in  specie  on  demand,  is  uniformly  at  a  discount. 

NAPLES. 

Accounts  are  kept  in  ducali  and  grant.     100  grani,  or  10  carlini=:l  ducat. 
Value  of  the  ducat  (sdver)  in  United  States  currency,  a  trifle  under  79  cts. . 

SICILY. 

Accounts  are  kept  in  oncie,  tari,  and  grani. 

20  grani=l  taro,  30  tari=l  oncia. 

1  oncia=3  ducati  of  Naples,        1  taro=l  carlino  of  Naples. 
The  oncia  (gold)=$2.48J  United  States  currency. 

SPAIN. 

Accounts  are  kept,  at  Cadiz,  Malaga,  and  in  most  of  the  provinces  of  Spain,  in  rials  of 
old  plate,  quintos  and  maravedis. 

2  maravedis=l  quinto,  16  quintos=l  rial  of  old  plate. 

lOf  rials  of  old  plate  =  1  silver  dollar,  or  $1  United  States  currency. 
At  Barcelona  accounts  are  kept  in  libras,  sueldos,  dineros  and  mallas. 

2  mallas=:l  dinero,  12  dineros=l  sueldo,  20  sueldos=l  hbra. 

The  libra  is  likewise  divided  into  rials  de  plata  Catalan,  of  3  sueldos  each,  and  inu? 
rials  ardites,  of  2  sueldos  each. 

1  libra=^8y  silver  dollar,  or  53J  cts.  United  States  currency. 

PORTUGAL. 

Accounts  are  kept  in  milrees  and  rees.     1000  rees=l  milree. 

In  notation  the  milrees  are  separated  from  the  rees  by  a  crossed  cypher,  (0)  and  the 
milrees  from  the  millions  of  rees,  by  a  colon  (:)— thus,  5:4000300  rees=5,400  milrees 
and  300  rees. 

1  milree  or  crown  (silver) =$1.12  United  States  currency. 

GREECE. 

Accounts  are  kept  in  drachm^  and  lepta.     100  lepta=l  drachme. 
Value  of  the  drachm^  (silver)  in  United  States  currency  16.6  cts.* 

TURKEY. 

Accounts  are  kept  in  piastres,  paras,  and  aspers. 

3  aspers=l  para,  40  paras=l  piastre. 

^    Some  foreign  merchants  resident  in  Turkey  reckon  80,  others  100  aspers  to  the  niastn* 
m  their  accounts.  ^  f^<^in.f 

The  value  of  the  piastre  (silver)  was  depreciated  from  60  cts.  currency  of  the  United 
States,  m  1764,  to  3  cts.  m  1832.  Its  present  value  is  about  3.8  cts.  Its  commerci^ 
value  is  about  ^\  of  a  dollar. 

EGYPT. 

Accounts  are  kept  as  in  Turkey.     The  piastre  (silver)=4.8  cts.  United  States  currency. 

CAPE  OF  GOOD  HOPE. 

Accounts  are  kept  in  pounds,  shillings,  pence,  ?ind 'farthings,  sterling;  or  m nx^dollaru 
schillings,  ?ind  stivers.  ^'        "^#«.uu»wr», 

6  stivers=l  schilling,  8  schillings=l  rix-dollar=ls.  6d.  stff. 

283  ^ 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT 

Id! 

MAURITIUS. 

Accounts  are  kept  in  dollars  and  cents  (or  hundredths)  currency.     The  current  dollar  or 
dollar  of  account  (fictitious  money)  is  worth  4  shillings  stg.,  when  exchange  is  at  par 
The  dollar  of  the  United  States  is  valued  at  $1.08^  cts.,  currency. 

EAST  INDIA  company's  TERRITORIES. 

Accounts  are  kept  in  Company's  rupees,  annas,  and  pice. 

12  pice=l  anna,  16  annas =1  Company's  rupee. 

Value  of  the  Company's  rupee,  (silver)  in  United  States  currency,  44^  cts. 
Notation;     1,00,000  (100  thousand)=l  lac,         1,00,00,000  (10  millions)=l  crore. 

JAVA. 

Accounts  are  kept  in  florins  and  centimes,  as  in  Holland. 

Manilla, 

Accounts  are  kept  in  dollars  and  rials  8  to  the  dollar. 
The  dollar  (Spanish)=the  dollar  of  the  United  States. 

Sydney,  JV.  S.  W. 
Accounts  are  kept  in  sterling  money. 

Canton, 
Accounts  are  kept  in  taels,  mace,  candarines,  and  cash. 

1  tacl«10  mace=100  candarines=1000  cash. 
The  cash  is  the  only  money  coined  by  the  Chinese  government,  and  is  made  of  a  mix- 
ture  of  copper  and  lead.     It  is  generally  worth  more  than  its  nominal  Value,  and  when 
much  in  demand  for  change,  a  tael  will  sometimes  purchase  only  750. 

Chinese  is  converted  into  United  States  money  of  account  at  the  rate  of  72  candarines 
per  dollar;  but  the  specie  dollar  of  the  United  States  generally  commands  a  premium  of 
3  to  5  per  cent,  on  this  valuation. 

BRITISH  PROVINCES  OF  NORTH  AMERICA. 

Accounts  are  kept  in  pounds,  shillings,  pmce,  and  farthings,  Halifax  currency.  The 
pound =$4  United  States  currency.  ^  o  j 

4  farthings=l  penny,         12  pence=l  shilling,         20  shilUngs^l  pound. 

BRITISH  V/EST  INDIA  COLONIES. 

In  these  islands  accounts  are  kept  in  pounds,  shillings,  pence,  and  farthings,  of  the  same 
relative  value  as  in  England  ;  but  the  value  of  the  pound  currency  as  compared  with  the 
pound  sterling,  vanes  very  much  in  the  diHerent  islands,  and  is  in  all  cases  less.  The  follow- 
ing  values  are  affixed  to  the  currencies  of  the  respective  islands :— jEIOO  stg.=jei35  of  Bar- 
badoes=-£140  of  Jamaica=X175  of  the  Windward  islands,  except  Barbadoes=i:200  of 
the  Leeward  islands.  But  exchange  on  England,  in  these  several  islands,  is  generally  at 
from  10  to  20  per  cent,  premium  on  the  values  above  given.  Thus  it  would  require  about 
i:i60  currency  of  Jamaica,  to  purchase  a  bill  of  exchange  on  London  for  jGIOO  stg. 

CUBA  AND  PORTO  RICO. 

Accounts  are  kept  in  Spanish  dollars  and  rials  of  plate  8  to  the  dollar, 
corresponds  in  value  with  the  dollar  of  the  United  States. 


The  dollai 


ST.   DOMINGO. 

Accounts  are  kept  in  dollars  and  centimes  or  hundredths. 
■  The  dollar  (silver)=about  33.J  cts.  United  States  currency. 
currency=$l  United  States  currency. 

284 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT. 

MEXICO. 

Accounts  are  kept  in  dollars  and  ri^ls. 

8  rials=sl  dollar  (silver)=that  of  the  United  States. 

VENEZUELA,  NEW  GRENADA,  AND  ECUADOR. 

Accounts  in  these  republics,  formerly  united  under  the  name  of  Colombia,  are  kept  in 
dollars  and  rials  8  to  the  dollar. 

The  coinage  of  these  States  is  very  irregular  in  value  ;  some  dollars  (silver;  bemg  worth 
rather  more  than  the  dollar  of  the  United  States ;  some  not  more  than  §  its  value ;  but 
most  being  of  less  value  than  our  coin. 

BRAZIL. 

Accounts  are  kept  in  milrees  and  rees  currency.     1000  rees=l  milree. 
In  notation  the  milrees  are  separated  from  the  rees  by  j|. 

The  piece  of  1|I200  rees  (silver)=99.4  cts.  United  States  currency. 
The  currency  of  Brazil  is  chiefly  paper  and  copper,  redeemable  in  silver  only  at  a  very 
great  discount:  the  rate  varying  very  much  in  different  provinces,  and  at  difieient  times 
in  the  same  province.     At  Rio  Janeiro,  in  December  1844,  Spanish  dollars  were  worth 
21|040  rees. 

Monte  Video. 

Accounts  are  kept  in  dollars  currency,  rials  and  centesimos. 

100  centesimos =1  rial,  8  rials =1  dollar  currency. 

The  dollar  of  account  or  currency=83J  cts.  United  States  currency. 
There  is  no  paper  currency. 

Buenos  Ayres, 

Accounts  are  kept  in  dollars  currency  and  rials  8  to  the  dollar. 

The  value  of  the  dollar  currency  fluctuates  very  much.  In  December  1843,  it  wm 
worth  C^  cts.,  United  States  currency,  and  it  rarely  exceeds  8  cts.  in  value. 

CHILI. 

Accounts  are  kept  in  dollars  and  rials  8  to  the  dollar. 

The  dollar  (silver)  is  worth  about  $1.01  United  States  currency,  but  is  generally  esu- 
niated  to  be  of  equal  value  with  it. 

PERU. 

Accounts  are  kept  in  dollars  and  rials  8  to  the  dollar. 

The  dollar  (silver)  is  about  equal  in  value  with  that  of  Chili,  and  the  same  remarkx 
apply  to  it.     There  is  a  dut}'  of  5  per  cent,  on  dollars  exported. 


I 


In  January  1845,  $2.75 


285 


\  ^ 


FOREIGN  COINS  AND  MONEYS  OF  ACCOUNT. 


FOREIGN   COINS   MADE   CURRENT  IN  THE   UNITED    STATES,   AND 
THEIR  VALUES  AFFIXED  BY  THE  SEVERAL  ACTS  OF  CONGRESS. 


Law  of  June  28,  1834. 


FINENESS 


%  Portugal 
Brazil 
Spain 
Mexico 
Colombia 
Law  of  March  3,  II 
Greiat  Britain 
France 


gold  coins 
rate 

PER  DWT. 


22  carats  .  .  94.8  cts.  .  . 


20  carats  and 
3^V  grains 
t3. 


91  5  S 

8  99 


I  89.9  Cts.    . 

94.6  cts.     . 
92.9  cts,     .     . 

SILVER   COINS. 


APPROXIMATE  VALUES  OF  COINS 
AT  RATES  GIVEN. 

Moidore  of  1705  $6.59 

No  coin  of  this  fineness. 
Doubloon  of  1810—24  $15.50 
of  Republic   $15.55 
of  Bogota      $15.61 


Sovereign,  of  Victoria      $4.86 
Napoleon,  or  20  francs      $3.85 


VALUE 
OF  EACH. 


Law  of  June  25,  1834. 

FINENESS.      WEIGHT. 

Dollar  of  ^ 

^"^"  [  liJ    •   415  grs.  .  100  cts. 

Cent.  America.  ) 

Brazil.     Dollars  restaraped  in  Brazil,  same  as 
Law  of  March  3,  1843. 
Pillar  dollar  of 


REMARKS. 


Spain 
and  dollar  of 

Mexico 

Peru 

Bolivia 
5  Franc  piece 

of  France 


^iV?nr  •   415  grs.  .  100  cts. 


Intrinsic  value  of  a  dollar  of 
Chili,  about  101  cts. ;  of  Cen- 
tral America,  about  100  cts. 
above. 


These  dollars  are  generally 
worth  rather  more  than  the 
value  affixed. 


KwiT  .   384  grs.  .     93  cts.  j  ^^^    ^^^^f  .^^.^^f^    ^«    ?^^T 
)  °  (      nearly  the  intrmsic  wortli. 


V^UE  OF  FOREIGN  MONEYS  OF  ACCOUNT,  IN  COMPUTATION  AT 
THE  CUSTOM-HOUSES  IN  THE  UNITED  STATES,  AS  FIXED  BY  \CT 
OF  CONGRESS. 


By  Law  of  March  3, 
Thaler  of  Prussia  = 

Milree  of  Portusral  • 

Rix-doUar  of  Bremen  a 

Thaler  of  Bremen,  72  grotes  = 
Milree  of  Madeira  = 

"      of  Azores  ■ 

Marc  banco  of  Hamburg        = 
Rouble  of  Russia  ■ 

Rupee  of  British  India  = 


1843. 

68i  c. 
•     $1.12 

78ic. 

71  c. 
»     $1.00 

83J  c. 
»  35    c. 

75    c. 

44Jc. 


By  Previous  Laws 

Franc  of  France  b 

Austrian  Guilder  ■■ 

Denmark  Rix-dollar  ■■ 
Pound  Stg.  Great  Britain  — 

"        of  Halifax  «. 

"        of  Jamaica  ■■ 

Pezza  of  Leghorn  ta 

Ducat  of  Naples  = 

Rix-dollar  of  Prussia  = 

Rial  of  Plate  of  Spain  = 

Ounce  of  Sicily  ■■ 
286 


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287 


4 


I 


TIME  TABLE.   No.  2. 


!  ; 


i  i 


K 


1     ^* 
January 

>    Jan. 

Feb. 

March. 

April. 

May. 

June. 

July. 

Aupuit. 

Sept. 

Oct. 

Nov. 

Dec.  " 

.   365 

31 

59 

90 

120 

151 

181 

212 

243 

273 

304 

334  'i 

February 

.   334 

365 

28 

59 

89 

120 

150 

181 

212 

242 

273 

303  ! 

March  . 

.   306 

337 

365 

31 

61 

92 

122 

153 

184 

214 

245 

275  1 

April .  . 

.   275 

306 

334 

365 

30 

61 

91 

122 

153 

183 

214 

244  } 

May  .  .  . 

.   245 

276 

304 

335 

365 

31 

61 

92 

123 

153 

184 

214 

June  .  .  . 

.   214 

245 

273 

304 

334 

365 

30 

61 

92 

122 

153 

183 

July  .  .  . 

184 

215 

243 

274 

304 

335 

365 

31 

62 

92 

123 

153 

August .  . 

153 

184 

212 

243 

273 

304 

334 

365 

31 

61 

92 

122 

Septembei 

•   122 

153 

181 

212 

242 

273 

303 

334 

365 

30 

61 

91 

October  . 

92 

123 

151 

182 

212 

243 

273 

304 

335 

365 

31 

61 

November 

61 

92 

120 

151 

181 

212 

242 

273 

304 

334 

365 

30 

December 

31 

62 

90 

121 

151 

182 

212 

243 

274 

304 

335 

365 

This  table  will  be  found  very  convenient  for  ascertaining  the  number  of  days  between 
any  two  dates  not  more  than  a  year  distant ;  also  for  ascertaining  with  accuracy  and  de 
spatch  the  time  when  notes,  drafts,  &c.,  fall  due. 

Each  of  the  numbers  in  the  table  shows  the  length  of  time  (in  days)  from  any  day  of 
the  month  standing  opposite  to  it  on  the  left,  to  the  corresponding  day  of  that  mon^h  which 
is  over  it. 

Examples. 

What  is  the  number  of  days  from  March  15th  to  Nov.  15th  .^ 

Opposite  March,  and  under  Nov.,  we  find  245,  the  number  required. 

What  is  the  length  of  time  from  May  4th  to  August  16th.' 

Opposite  May  and  under  August  is  the  number  92,  showing  the  days  from  May  4th  to 
August  4th.  to  August  16th  it  is  12  days  more,  which,  added  to  92,  give  104,  the 
answer. 

How  many  days  from  December  25th  to  June  12th  ? 

Opposite  December  and  under  June  is  182,  the  number  of  days  from  December  25th 
to  June  25th ;  but  to  June  12th  is  13  days  less,  which,  deductod  from  182,  gives  169, 
the  answer. 

If  a  note  be  drawn  July  14th,  at  90  days,  when  will  it  fall  due,  grace  included  ? 

In  the  line  of  figures  opposite  July,  seek  that  number  which  is  nearest  in  amount  to  the 
number  of  days  for  which  the  note  is  drawn.  This  is  found  to  be  92,  which  stands  under 
October,  showing  that  92  days,  from  July  14th,  brings  the  time  to  October  14th,  to  which 
arid  one  day,  (the  excess  of  93  over  92,)  and  you  have  October  15th,  answer. 


t 


!288 


1^ 


1 


i 


D4Z0 
C863 


D420 
C863 


tJrittenden,  S.W.        

An  inductive  and  practic; 
treatisS^bookkeeping. 


COLUMBIA  UNIVERSITY  LIBRA^^^^ 


I* 


0041419995 


n6H  ozsi-j 


5£P2«i9^ 


BOUND 

OCT  -9  1961 


IN 


END  OF 
TITLE 


